Only 51% Say Home Worth More Than When They Bought It
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.
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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.
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