In a recent (Oct 24 - Dec 4, 2008) survey conducted on the website Home Price Trend , over 97% of 1,650+ respondents expects the Real Estate market to continue it's downward spiral. The results shows a different perspective to a recent survey conducted by Zillow.com on Oct. 29th, 2008. In Zillow's survey their results showed that close to 50% of respondents believed that their home values either increased or stayed the same. Apparently the sample used for the two polls came from different demographics. Zillow's survey had a total of 2021 respondents, comprising of adults ages 18+, of whom 1,388 are homeowners. Visitors of Home Price Trend comprises of home owners and potential home owners ages 18+ with a strong interest in the Real Estate market trend.home prices,home pric trends,home sale prices,appraisal,for sale,home value, buy house,median home prices, home
The survey conducted by Home Price Trend asks the question "When do you expect home prices will stabilize?". The chart below shows breakdown of when visitors to the site felt the decline would end. Over 90% felt it would continue falling past the year 2010 and 70% felt it would continue past the year 2011. Over 45% of respondents sees the fall continuing until the year 2012 and over 17% expect it to go well into the year 2015. home prices,home pric trends,home sale prices,appraisal,for sale,home value, buy house,median home prices, real estate price trends
"After one of the most turbulent quarters in history for the U.S. economy and housing market, you'd expect the reality of dropping home values to start sinking in," said Dr. Stan Humphries, Zillow vice president of data and analytics. home prices,home pric trends,home sale prices,appraisal,for sale,home value, buy house,median home prices, real estate price trends, home valuation
Realities of dropping home prices may not be hitting 100% of the general public but for online visitors of Home Price Trend, 97% is pretty darn close.
Special thanks to Patrick.net, Realtors.com, Latimes.com and Zillow.com for their contribution to this survey.
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