PrintReal 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 from 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, according to the third quarter 2012 HomeGain home values survey.
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.” said Louis Cammarosano, General Manager of HomeGain.
Over 300 real estate agents and brokers and over 2,200 homeowners were surveyed.
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