Only 10 Percent of Real Estate Pros See Home Prices Rising Over Next Six Months

September 21, 2010 No Comments »

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How’s this for confidence in housing.

Just 10 percent of real estate professionals think home prices will rise over the next six months, according to the 3rd Quarter 2010 National Home Prices Survey from HomeGain.

They cited high inventory levels (shadow inventory), ongoing foreclosure activity, and the expiration of the homebuyer tax credit.

Meanwhile, 18 percent of homeowners asked the same question expect home values to increase in the coming six months.

And 48 percent of agents and brokers and 33 percent of homeowners think home prices will decrease over the next six months.

In the previous survey, 33 percent of agents and brokers and 23 percent of homeowners expected home prices to fall over the following six months.

Overall, 42 percent of homeowners, real estate agents and brokers think home prices will remain the same over the next six months.

Homes For Sale Overpriced?

An increasing number of real estate agents and brokers (69%) have also indicated that their home buyer clients think homes for sale are overpriced, up from 61 percent in the previous survey.

But 79 percent of homeowners continue to believe their homes are worth more than the recommended agent listing price, up from 77 percent last quarter.

Go figure.

Top 10 States Where Real Estate Agents and Homeowners Think Home Prices Will Go Down In the Next Six Months:

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Top 10 States Where Real Estate Agents and Homeowners Think Home Prices Will Go Up in the Next Six Months:

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