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Homeowners Still Show Little Confidence In Short-Term Housing Market

Thursday, November 18, 2010

Homeowners continue to have little short-term confidence in the U.S. housing market but are much more confident about the picture five years down the road. The findings on both questions remain in the ballpark of where they’ve been for well over a year.

A new Rasmussen Reports national telephone survey finds that only 20% of homeowners believe the value of their home will go up in the next year. Twenty-four percent (24%) expect the value to go down, but that’s an eight-point drop from last month, which had been the most pessimistic finding to date. Most (53%) think their home’s value will stay about the same.

A month ago, 21% expected their house’s value to go up, while 45% said it would remain about the same.

Still, the new findings are little changed from those at the first of the year.

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The survey of 720 Adult Homeowners was conducted on November 16-17, 2010 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.

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