Just 11% Expect Their Home’s Value To Go Up Over Next Year

Rasmussen Reports - Tuesday, July 19, 2011

Confidence that home values will go up over the coming year has fallen to the lowest level ever recorded.

The latest Rasmussen Reports national telephone survey of homeowners shows that just 11% now believe the value of their home will go up over the next 12 months. That’s down from 16% last month. Prior to the latest survey, the number who expected their home values to rise during the next year ranged from 15% to 31%.

One-in-three homeowners (33%) now expects his or her home’s value to go down in the next year, down slightly from June’s high of 37%. Fifty-three percent (53%) think their home will be worth about the same amount in a year's time.

Thirty-seven percent (37%) believe their home’s value will be higher in five years, marking little improvement from 35% in June. That number ranged from 41% to 55% in 2010. In December 2008, just after the Wall Street meltdown, 59% said their home would be worth more in five years' time.

...Investors (12%) aren’t any more confident than non-investors (11%) that their home values will rise over the next year. But 50% of investors expect their home to be worth more five years from now, compared to just 15% of non-investors.

Click Here for the rest of the story