HomeGain Releases Fourth Quarter 2011 Home Values Survey Results

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Forty-three percent of surveyed real estate professionals nationwide expect home values to stay the same over the next six months; Seventy percent disapprove of Obama's performance as President; Mitt Romney edges out Barack Obama.

Homeowners and real estate professionals appear to be in sync regarding the direction of home prices.

HomeGain®, the first website to provide free online instant home prices, today announced the results of its nationwide fourth quarter 2011 home values survey. Over 400 real estate agents and brokers and over 2,000 homeowners were surveyed.

Most real estate professionals and homeowners continue to expect home values to stay the same or decrease through the end of the year. Forty-three percent of agents and brokers and 48 percent of homeowners think that home values will stay the same over the next six months.

Forty-two percent of real estate agents and brokers and 37 percent of homeowners think that home values will decrease in the coming six months.

Fifteen percent of real estate professionals expect home values to increase in the next six months, up four percent from last quarter. Fifteen percent of homeowners also expect home values to increase in the next six months, up three percent from last quarter.

In the third quarter 2011 HomeGain National Home Values Survey, forty-seven percent of agents and brokers and 45 percent of homeowners thought that home values would decrease over the next six months.

According to surveyed agents and brokers, 76 percent of homeowners believe their homes are worth more than the recommended agent listing price. In contrast, 68 percent of home buyers believe homes are overpriced.

“Homeowners and real estate professionals appear to be in sync regarding the direction of home prices. Home buyers and sellers, however, continue to remain apart as to home valuations with the vast majority of homeowners thinking their homes are worth more than their agents and the market are telling them,” said Louis Cammarosano, General Manager of HomeGain.

Fifty-two percent of agents and brokers surveyed indicated that they “strongly disapproved” and 18 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 70 percent disapproval rating, an increase of one percent in the disapproval rating of agents and brokers surveyed in the fourth quarter last year. Last quarter the President had a 72 percent disapproval rating among agents and brokers.

Forty-four percent of homeowners “strongly disapproved” and 16 percent “somewhat disapproved” of the President’s performance, earning him a 60 percent disapproval rating. The President had a 63 percent disapproval rating last quarter among surveyed homeowners with 47 percent “strongly disapproving." The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain Fourth Quarter 2011 Home Values Survey indicated that the President’s average disapproval rating was 52 percent with an average of 40 percent “strongly disapproving” of his performance.

When asked which Presidential nominee they would vote for if the election were held today, real estate professionals favored Mitt Romney, who received 34 percent of the votes. Barack Obama received 32 percent of the votes. Homeowners were asked the same question and sided with Barack Obama, who received 41 percent of the votes.

The survey was conducted from November 9 – November 20, 2011. For complete survey results, including regional breakdown, visit the HomeGain Real Estate Blog.

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Louis Cammarosano
HomeGain
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