According to a third-quarter survey from home price tracking website HomeGain.com, real estate professionals, homeowners and Miami realtors alike have taken a negative view about the U.S. housing market. The survey, which interview roughly 1,100 real estate professionals and 2,600 homeowners, discovered that 90 percent of real estate agents and brokers believe now that home prices will remain flat or will experience a decline over the next six months.
Up from 33 percent during HomeGain's second-quarter survey, between agents and brokers, 48 percent believe home prices are going to decline over the next six months. New York agents have especially a negative outlook, with 70 percent saying that home prices were likely to drop.
Overall, homeowners were more positive, with 33 percent expecting a decrease, up from 23 percent in the second quarter. In Florida however, where values have been hit hardest by the real estate bust, 81 percent of homeowners thought prices were about to drop.
Only 18 percent of homeowners nationwide said they believe prices would go up in the next half-year.
The vast majority of homeowners are slow to let go of value, when it comes to their own properties. Up from 77 percent in the second quarter, a full 79 percent believe their homes are worth more than what professional agents recommended as a listing price. And on the reverse, 69 percent of agents and brokers said their clients believe that homes for sale are overpriced, up from 61 percent in the second quarter.
If you are interested in the homes for sale in Miami or are considering purchasing a property in Miami, contact MLR Realty at 305-673-3303
Contributed by MLR Realty
