4th Quarter Home Price Survey Released
HomeGain has announced the results of the 4th quarter Home Prices Survey of Realtors, based on 928 responses from across the country. Assusming you aren't interested in what the Realtors think, here are the homeowner and home buyer statistics.
According to the fourth quarter survey, 41% of homeowners believe that their homes should be listed 10 to 20% higher than what their Realtors’ recommend, up from 38% of homeowners who believed so in the third quarter and 36% who believed so in the second quarter.
Seventy-six percent of home sellers believe that their homes are worth more than their Realtors’ recommended listing price, up from 74% in the third quarter survey and 71% in the second quarter survey.
Conversely, 62% of home buyers think that homes are overpriced, down from 64% in the third quarter and up from 59% of home buyers who thought homes were overpriced in the first quarter.
“The fourth quarter HomeGain Home Prices Survey of Realtors shows that Realtors believe that the first-time home buyer’s tax credit has driven sales and stabilized home prices, for now. Realtors, however, expressed concerns about the cost of the credit to tax payers and whether sales will continue once the credit expires later next year and additional inventory hits the market,” stated Louis Cammarosano, General Manager at HomeGain. “The vast majority of Realtors expect prices to remain the same or increase in the first six months of 2010.”
Sherry Armstrong, Realtor
Ormond Beach and Daytona Beach, FL
(resource: RisMedia press release)