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New High: 40% Expect Their Home’s Value To Decrease Over Next Year

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.

(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 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.

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