As the new year begins, most American homeowners continue to show little optimism that the housing market will turn around in the next year but are more hopeful than they have been in several months that things will get better in the long term.
The latest Rasmussen Reports national telephone survey shows that just 22% of homeowners think the value of their home will go up over the next year, while the same number (22%) expects it to go down. Fifty-four percent (54%) say their home values will remain about the same. (To see survey question wording, click here.)
Those findings are consistent with results found for the last two years. Since April 2009, the number of homeowners who expected their home values to increase over the next year ranged from a low of 15% to a high of 31%. The number who expected their home values to go down ranged from 19% to 32% over the same period. (See trends here.)
But 53% of homeowners now expect their home values to go up in the next five years, while just 10% expect them to go down. Twenty-nine percent (29%) don’t expect values to change in the next five years. The number that expects their home values to increase is the highest level measured since April 2010, while the number that expects the opposite is at its lowest level in over two years.
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The survey of 670 Adult Homeowners was conducted on January 2-3, 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.
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