Sunday, April 17, 2011
Both short and long-term confidence in the U.S. housing market continue to fall, with homeowners now expressing the highest level of pessimism in two years.
A new Rasmussen Reports national telephone survey finds that just 15% of homeowners expect the value of their home to go up in the next year while 33% expect the opposite and think the value of their home will decline. (To see survey question wording, click here.)
The current figures reflect more pessimism than a month ago when 19% were optimistic and 30% pessimistic about the value of their home over the next year.
Looking longer term, only 39% of homeowners now think that the value of their home will go up over the next five years. That’s down five points from last month and the lowest level of confidence measured by Rasmussen Reports. In April 2009, 55% expected their house’s value to rise in five year’s time.
Currently, 18% say the value of their home will go down over the next five years and 37% expect little change.
The survey of 709 Homeowners was conducted on April 14-15, 2011 by Rasmussen Reports. The margin of sampling error is +/- 4 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.Rasmussen subscribers can log in to read the rest of this article.
ORRasmussen Reader subscribers can now get full access to current articles for 1 year for $24.95
Rasmussen Reports is a media company specializing in the collection, publication and distribution of public opinion information.
We conduct public opinion polls on a variety of topics to inform our audience on events in the news and other topics of interest. To ensure editorial control and independence, we pay for the polls ourselves and generate revenue through the sale of subscriptions, sponsorships, and advertising. Nightly polling on politics, business and lifestyle topics provides the content to update the Rasmussen Reports web site many times each day. If it's in the news, it's in our polls. Additionally, the data drives a daily update newsletter and various media outlets across the country.
Some information, including the Rasmussen Reports daily Presidential Tracking Poll and commentaries are available for free to the general public. Subscriptions are available for $4.95 a month or 34.95 a year that provide subscribers with exclusive access to more than 20 stories per week on upcoming elections, consumer confidence, and issues that affect us all. For those who are really into the numbers, Platinum Members can review demographic crosstabs and a full history of our data.
To learn more about our methodology, click here.