Seventy-five percent of home owners say their homes are worth more than the recommended listing price, according to real estate professionals recently surveyed by HomeGain. On the other hand, 68 percent of home buyers say homes are overpriced.
However, home owners may be getting more realistic about falling home values. Forty-five percent of home owners say they expect home values to decrease within the next six months, while 47 percent of real estate professionals say they expect values to also decrease within that time period.
HomeGain surveyed more than 500 real estate professionals and 2,200 home owners for its third quarter home values survey.
Top 5 States Where Home Prices Will Rise in the Next 6 Months
Real estate professionals surveyed were most optimistic about these housing markets to see a rise in home values in the next six months:
- Arizona
- Florida
- Texas
- California
- Ohio
Top 5 States Where Home Prices Will Fall in the Next 6 Months
Real estate professionals surveyed expected these housing markets to see a drop in home values in the next six months:
- New Jersey
- Pennsylvania
- North Carolina
- Georgia
- Virginia