Wednesday, January 19, 2011
The number of homeowners who say their home is worth more now than when they bought it has plummeted in the past two-and-a-half years.
A new Rasmussen Reports national telephone survey finds that 51% of Adult homeowners now say their home is worth more money today than it was when they bought it, down 29 points from 80% in June 2008.
Twenty-six percent (26%) say their home is worth less now than when they bought it, compared to nine percent (9%) in the previous survey. Twenty-one percent (21%) think the value is about the same versus 10% who believed that in the earlier poll. (To see survey question wording, click here.)
Seventy-five percent (75%) of homeowners are at least somewhat confident, too, that they know how much their house is worth in today's market, with 42% who are Very Confident. Twenty-two percent (22%) are not very or not at all confident that they know. These findings are down only slightly from June 2008.
One-in-three homeowners now say they owe more on their mortgage than their home is worth, but slightly fewer expect to miss a house payment in the next six months.
The survey of 710 Adult Homeowners was conducted on January 16-17, 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.
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