A HomeGain survey recently reported that real estate agents are very optimistic about their industry. The survey found that the number of industry professionals expecting home values to increase more than doubled over last quarter, according to a national survey.
I know what you're thinking. "But, of course, if you're in the industry you had better have a positive attitude". Well, that might be a good idea. But remember, it is their industry and paying attention to the market is critical for expert agents. And, in this case, the group of agents who are optimistic corroborates with other industry findings that show the housing industry just might be stabilizing. Homebuilders are also positive and, while home prices are still falling, inventory is also dropping, hitting the lowest level (2.3 million in January) since March 2005, according to the National Association of Realtors.
HomeGain reported that some real estate agents see a "bullish" outlook on the market. In recent years the percentage of those expressing that view point never topped 25 percent.
The recent survey found that, nationally, 37 percent of the respondents, surveyed this year, anticipate home values to increase in the next six months. That's a huge jump from the mere 15 percent that believed home values would increase in the last quarter of 2011.
In a press statement, General Manager of HomeGain, Louis Cammarosano, said, "Real estate professionals have grown more optimistic regarding the direction of home prices, especially in the states that have been hardest hit in the past few years, like Arizona, Nevada and Florida and also in states that have done comparatively well, like Massachusetts and Virginia".
However, 22 percent of the agents are expecting home values to fall and 41 percent, think there won't be a change in the next six months. The HomeGain nationwide survey focuses on home values during the first quarter of 2012. More than 400 real estate agents and 1,700 homeowners participated in the survey. Both national and regional results were recorded and are detailed on the HomeGain site.
So how do homeowners weigh in on this issue? According to those surveyed, 29 percent of homeowners expect home values to decrease over the next six months and 46 percent of homeowners think that home values will remain the same.
But when it comes to the value of a homeowner's own house, 77 percent of homeowners think their homes are worth more than the recommended agent listing price, according to surveyed agents and brokers. Meanwhile, 62 percent of home buyers think homes are overpriced. The challenge of a meeting of the minds continues.
The survey also measured the satisfaction of President Barack Obama's performance in office. Agents and brokers gave him a 66 percent overall disapproval rating. Homeowners gave him a 56 percent overall disapproval rating.
According to the HomeGain press statement, The Rasmussen Daily Presidential Approval Index taken during the same period as the HomeGain First Quarter 2012 Home Values Survey indicated that the President's average disapproval rating was 52 percent with an average of 42 percent "strongly disapproving" of his performance.
The survey provides detailed findings including which states ranked the President's performance the highest and lowest. Also, what percentage of homes are in foreclosure throughout the nation. For more information, see the 2012 HomeGain Home Values Survey.