HomeGain Releases Third Quarter 2012 Home Values Survey Results

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Fifty-one percent of real estate professionals expect home values to increase, up from 48 percent from last quarter; Sixty-seven percent disapprove of Obama's performance as President; Mitt Romney favored over Barack Obama by both real estate professionals and homeowners.

The survey show an increase in optimism, especially over the course of the next two years, as 80 percent of real estate professionals expect home prices to be higher than they are today.

HomeGain®, the first website to provide free online instant home prices, today announced the results of its nationwide third quarter 2012 home values survey. Over 300 real estate agents and brokers and 2,200 homeowners were surveyed.

Real estate professionals continue to be more optimistic about the direction of home values than homeowners. Fifty-one percent of real estate professionals expect home values to increase, up from 48 percent last quarter. Thirty-four percent of homeowners expect home values to increase, up from 27 percent last quarter.

Eighty percent of real estate professionals and 62 percent of homeowners think home values will increase in the next two years. In contrast, just five percent of real estate professionals and 14 percent of home owners think home values will decrease in the next two years. Fifteen percent of real estate professionals and 24 percent of homeowners think home values will stay the same in the next two years.

Eleven percent of real estate professionals expect home values to decrease in the next six months, down from 14 percent from last quarter. Twenty percent of homeowners expect home values to decrease in the next six months, down from 24 percent from last quarter.

Thirty-eight 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, 76 percent of homeowners believe their homes are worth more than the recommended agent listing price. In contrast, 60 percent of home buyers believe homes are overpriced.

"Optimism about the direction of home prices continues to grow," said Louis Cammarosano, General Manager of HomeGain. “The survey show an increase in optimism, especially over the course of the next two years, as 80 percent of real estate professionals expect home prices to be higher than they are today."

Fifty-three percent of agents and brokers surveyed indicated that they “strongly disapproved” and 14 percent “somewhat disapproved” of Barack Obama’s performance as President, earning him a 67 percent disapproval rating, a decrease of five percent in the disapproval rating of agents and brokers surveyed in the third quarter of 2011. In the second quarter of 2012, the President had a 66 percent disapproval rating among agents and brokers.

Forty-five percent of homeowners “strongly disapproved” and 11 percent “somewhat disapproved” of the President’s performance, earning him a 56 percent disapproval rating. The President had a 59 percent disapproval rating last quarter among surveyed homeowners with 46 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 both of the President’s average approval and disapproval ratings were 49 percent, with an average of 41 percent “strongly disapproving” of his performance and an average of 29 percent “strongly approving” 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 64 percent of the votes. Barack Obama received 36 percent of the votes. Homeowners also favored Mitt Romney over Barack Obama, fifty-four percent to 46 percent, respectively.

Real estate professionals and homeowners were also asked who they would vote for if Gary Johnson were added to the equation. For real estate professionals, the inclusion of Gary Johnson took away an even percentage of votes from both Barack Obama and Mitt Romney, who received 34 percent and 62 percent of the votes, respectively. Gary Johnson received four percent of the votes.

For homeowners, the inclusion of Gary Johnson took away more votes from Mitt Romney than Barack Obama. Mitt Romney, Barack Obama and Gary Johnson each received 50 percent, 44 percent and six percent of the votes, respectively.

The survey was conducted from September 11 – September 21, 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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