HomeGain Releases First Quarter 2011 Home Values Survey Results

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Thirty-nine percent of surveyed real estate professionals nationwide expect home values to decrease over the next six months; Sixty-four percent disapprove of Obama's performance as President.

Optimism regarding the direction of home prices among real estate professionals remains muted and relatively unchanged from last quarter.

HomeGain®, the first website to provide free online instant home prices, today announced the results of its nationwide first quarter 2011 home values survey. Over 750 real estate agents and brokers and over 1,600 homeowners were surveyed.

Most real estate professionals and homeowners continue to expect home values to decrease or stay the same through the middle of the year. Thirty-nine percent of agents and brokers and thirty percent of homeowners think that home values will decrease over the next six months.

In the fourth quarter 2010 HomeGain National Home Values Survey, 46 percent of agents and brokers and 30 percent of homeowners thought that home values would decrease over the next six months.

Forty-four percent of real estate agents and brokers and forty-six percent of homeowners think that home values will remain the same in the coming six months.

Seventeen percent of real estate professionals expect home values to increase in the next six months, up from 12% last quarter. Twenty-four percent of homeowners expect home values to increase in the next six months, up from 22% last quarter.

According to surveyed agents and brokers 76% of homeowners believe their homes are worth more than the recommended agent listing price. In contrast 69% of home buyers believe homes are overpriced.

“Optimism regarding the direction of home prices among real estate professionals remains muted and relatively unchanged from last quarter. Home buyers and sellers continue to disagree on what homes are worth with buyers expecting lower prices and sellers continuing to believe their homes are worth more than their agents and brokers are telling them,” said Louis Cammarosano, General Manager of HomeGain.

Forty-three percent of agents and brokers surveyed indicated that they “strongly disapproved” and 21 percent “somewhat disapproved” of Barack Obama's performance as President, earning him a 64 percent disapproval rating versus the 58 percent disapproval rating of agents and brokers surveyed in the first quarter last year. Last quarter the President had a 68 percent disapproval rating among agents and brokers.

Thirty-nine percent of homeowners “strongly disapproved” and 19 percent “somewhat disapproved” of the President’s performance, earning him a 58 percent disapproval rating. The President had a 60 percent disapproval rating last quarter among surveyed homeowners with 42 percent “strongly disapproving”. The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain First Quarter 2011 Home Values Survey indicated that the President’s average disapproval rating was 52 percent with an average of 39 percent “strongly disapproving” of his performance.

The survey was conducted from March 1-8, 2011.

For complete survey results, including regional breakdown, visit the HomeGain Real Estate Blog.

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Louis Cammarosano
HomeGain
510-594-4121
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