Monday, September 19, 2011
Homeowners remain very pessimistic about the potential short- and long-term values of their homes.
The latest Rasmussen Reports national telephone survey shows that 40% of U.S. homeowners now expect their home’s value to go down over the next year, the highest level of pessimism to date. Prior to the latest finding, this number ranged from a low of 19% to a high of 37% since April 2009.
Just 13% expect the value of their home to go up over the next year. While that shows no change from last month, it's up just two points from the all-time low reached in July. Forty-five percent (45%) think their house will be worth about the same amount in one year’s time. (To see survey question wording, click here.)
When it comes to the longer term, 36% believe their home’s value will go up during the next five years, down from 40% last month and just one point above the lowest level measured in over two years. This finding was over 50% for much of 2009 and 2010.
Twenty-four percent (24%) think housing values will decrease over the next five years, up slightly from the past two months. Thirty percent (30%) predict that their home's value will be about the same in five years.
The survey of 753 Homeowners was conducted on September 15-16, 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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