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.
OR8-Weeks FREE to our top-tier Platinum Service Subscription. Limited Time Offer > Sign Up Now!
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.