Friday , 2 June 2017
Home » Beyond Today’s News » Expectations Rise for Prices to Fall
Both real estate professionals and homeowners soured on the direction of home prices in the third quarter and nearly half of the 1,100 professionals participating in a new survey by HomeGain expect prices to fall over the next six months.

Expectations Rise for Prices to Fall

Both real estate professionals and homeowners soured on the direction of home prices in the third quarter and nearly half of the 1,100 professionals participating in a new survey by HomeGain expect prices to fall over the next six months.

Forty-eight percent of agents and brokers and 33 percent of homeowners think that home prices will decrease over the next six months. This reflects an increase in the percentage of real estate professionals and homeowners who expect a decline in home prices from the second quarter HomeGain home prices survey. In that survey 33 percent of agents and brokers and 23 percent of homeowners expected home prices to decrease over the next six months. Forty-two percent of homeowners, real estate agents and brokers think that home prices will remain the same in the coming six months.

Only 10 percent of real estate professionals and 18 percent of homeowners expect home values to increase in the coming six months.

After existing home sales fell a record 27 percent in July, inventories reached more than a year’s supply. A survey of agents released yesterday by Campbell Communications/Inside Mortgage Finance found that prices held steady in August, but the rising inventory brought about by diminishing demand following the expiration of the homebuyer tax credit April 30 is expected to put pressure on prices. The National Association of Realtors will release existing home sales data for August this Thursday, September 23.

The HomeGain survey found that most homeowners putting their homes on the market continue to value their homes more than agents recommend. Seventy-nine percent of homeowners continue to believe their homes are worth more than the recommended agent listing price, up from 77 percent last quarter.

On the other hand, sixty-nine percent of surveyed agents and brokers indicated that their home buyer clients think homes for sale are overpriced, up from 61 percent last quarter.

HomeGain, the first company to provide free instant home valuations online, announced the results of its nationwide 2010 third quarter home prices survey based on the responses of over 1,100 current and former HomeGain members and 2,600 homeowners.

One comment

  1. Home prices will definitely decline further. I predict another 20% to 30% decline. See my blog post: The Truth About Home Pricesn. The graph in the post clearly shows that, based on historic norms, as of July 2010 homes are priced a tiny bit above the historic price to income ratio. This means that if home prices were to rise from the July 2010 level the price to income ration would be back in bubble territory.
    Short Sale and Foreclosure Help and Assistance for Homeowners and Property Owners in Nashville TN and Middle TN. If you are a Nashville Tennessee, Franklin Tennessee, Brentwood Tennessee, Nolensville Tennessee, Spring Hill Tennessee, Murfreesboro Tennessee, Smyrna Tennessee, La Vergne Tennessee, or Middle Tennessee homeowner, property owner, condo owner, real estate investor, home builder or real estate developer who cannot pay your mortgage payments (due to losing your job, having your income reduced, illness, health problems, adverse business conditions, slow sales, loss of investment property tenants, vacancy issues, lack of funds to complete the project, feuding business partners, etc.), know that you will not be able to pay your mortgage, have defaulted on your mortgage, are already in foreclosure, or owe more than your home is worth, please contact me to discuss your options including a loan modification and a short sale (a real estate short sale occurs when the sale proceeds are not sufficient to pay off all the mortgages and liens on the property/home). I am a Middle Tennessee distressed real estate, short sale, pre-foreclosure (preforeclosure) and foreclosure REALTOR, Expert and Real Estate Investor. I primarily help sellers (homeowners, property owners, condo owners, owners of high end homes and properties (estate homes, luxury homes and executive homes), real estate investors, home builders and real estate developers) of distressed real estate, short sales, pre-foreclosures, foreclosures, investment properties, failed new construction projects and struggling commercial real estate developments located in Middle Tennessee (Rutherford County TN, Williamson County TN, Davidson County TN, Robertson County TN, Maury County TN, Murfreesboro TN, Smyrna TN, La Vergne TN, Eagleville TN, Lascassas TN, Rockvale TN, Christiana TN, Brentwood TN, Franklin TN, Nashville TN, Belle Meade TN, Nolensville TN, Spring Hill TN, Gallatin TN, Springfield TN and Mt. Juliet TN). If you do need to short sell your home or property, or you need a quick sale due to being in foreclosure, you can request short sale and foreclosure help and assistance on my website at Get Short Sale and Foreclosure Help and Assistance from a Nashville Tennessee and Middle Tennessee Short Sale and Foreclosure REALTOR, Real Estate Expert and Real Estate Investor.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

 

Earn a 25% Commission Rebate on Any Home Purchase!

Hide