Just 15% of Homeowners Expect Value of Home to Go Up This Year

Homeowners continue to be skeptical about the value of their home in the short-term and even long-term confidence is limited.

A new Rasmussen Reports national telephone survey finds that only 15% of Adult Homeowners believe the value of their house will go up over the next year. Twenty-seven percent (27%) hold the opposite view and believe it will go down.

Those numbers reflect a further weakening of confidence from a month ago, and match the lowest level of optimism yet recorded.  (To see survey question wording, click here.)

Last April, 31% believed that the value of their home would go up in value over the coming year. That was the peak of confidence measured since December 2008.

Even looking out five years, just 43% believe the value of their home will go up.  “That’s a devastating assessment for a nation that was brought up to believe that housing values would always go up,” noted Scott Rasmussen, President of Rasmussen Reports. Sixteen percent (16%) say the value of their house will go down, and another 33% think it will stay about the same. 

Since December 2008 confidence in the long-term increase in home value has ranged from a high of 59% to last month’s low of 39%.

(Want a free daily e-mail update? If it's in the news, it's in our polls). Rasmussen Reports updates are also available on Twitter or Facebook.

The survey of 680 Homeowners was conducted on May 14-15, 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.