PrintReal estate professionals have become more optimistic about the direction of home values than homeowners, according to the latest HomeGain National Home Values Survey.
Thirty-seven percent of real estate professionals expect home values to increase, up from 15 percent last quarter while only 25 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, 77 percent of homeowners believe their homes are worth more than the recommended agent listing price. In contrast, 62 percent of home buyers believe homes are overpriced.
“Real estate professionals have grown more optimistic regarding the direction of home prices, especially in the states that have been hardest hit in the past few years, like Arizona, Nevada and Florida and also in states that have done comparatively well, like Massachusetts and Virginia.” said Louis Cammarosano, General Manager of HomeGain.
March 23rd, 2012 at 10:17 am
If one considers that the current market is pushing out a relatively high quantity of damaged inventory; once that component is reduced a market’s prices may appear to have “bounced back.”
With reduced resale inventory, the value of a move-in ready, non-distressed property should do well, if not improve this year.