HomeGain Releases Second Quarter 2012 Home Values Survey Results

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Forty-eight percent of real estate professionals expect home values to increase in coming six months, up from 11 percent last quarter; Sixty-eight percent disapprove of Obama's performance as President; Mitt Romney favored over Barack Obama by both real estate professionals and homeowners; Ron Paul pulls 16% in a three way preference poll

Real estate professionals are especially optimistic about home prices in the short term and especially optimistic in the coming two years with 82 percent of real estate professionals and 59 percent of homeowners expecting prices to rise.

HomeGain®, the first website to provide free online instant home values, today announced the results of its nationwide second quarter 2012 home values survey. Over 400 real estate agents and brokers and 1,600 homeowners were surveyed.

Real estate professionals continue to be more optimistic about the direction of home values than homeowners. Forty-eight percent of real estate professionals expect home values to increase, up from 15 percent last quarter. Twenty-five percent of homeowners expect home values to increase, up from 15 percent last quarter.

Twenty-two percent of real estate professionals expect home values to decrease in the next six months, down from 42 percent from last quarter. Twenty-nine percent of homeowners expect home values to decrease in the next six months, down from 37 percent from last quarter.

Forty-one percent of real estate professionals and 46 percent of homeowners believe home values will stay the same in the next six months.

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

“Optimism among real estate professionals spiked in the second quarter. Real estate professionals are especially optimistic about home prices in the short term and especially optimistic in the coming two years with 82 percent of real estate professionals and 59 percent of homeowners expecting prices to rise,” said Louis Cammarosano, General Manager of HomeGain.

Eighty-two percent of real estate professionals and 59 percent of homeowners think home values will increase in the next two years. In contrast, just six percent of real estate professionals and 15 percent of homeowners think home values will decrease in the next two years. Twelve percent of real estate professionals and 26 percent of homeowners think home values will stay the same in the next two years.

Fifty-three percent of agents and brokers surveyed indicated that they “strongly disapproved” and 13 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 66 percent disapproval rating, an increase of one percent in the disapproval rating of agents and brokers surveyed in the second quarter of 2011. In the first quarter of 2012, the President also had a 66 percent disapproval rating among agents and brokers.

Forty-six percent of homeowners “strongly disapproved” and 13 percent “somewhat disapproved” of the President’s performance, earning him a 59 percent disapproval rating. The President had a 56 percent disapproval rating last quarter among surveyed homeowners with 41 percent “strongly disapproving." The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain Second Quarter 2012 Home Values Survey indicated that the President’s average disapproval rating was 50 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 once again favored Mitt Romney, who received 57 percent of the votes. Barack Obama received 31 percent of the votes and Ron Paul received 12 percent of the votes. Homeowners were asked the same question and sided with Mitt Romney, who received 43 percent of the votes. Barack Obama came in second with 41 percent of the votes, followed by Ron Paul with 16 percent.

Real estate professionals and homeowners were also asked who they would vote for if Ron Paul were removed from the equation. The majority of Ron Paul’s votes went to Mitt Romney, who received 67 percent of the votes, with Barack Obama receiving 33 percent. Homeowners also favored Mitt Romney over Barack Obama, fifty-five percent to 45 percent, respectively.

The survey was conducted from May 21 – June 1, 2012. For complete survey results, including regional breakdown, visit the HomeGain Real Estate Blog.

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Louis Cammarosano
HomeGain
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