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Date: Feb. 4, 2008
Tags: None
Daily Real Estate News | February 4, 2008
Fewer Home Owners See Price Rises
Only 29 percent of home owners surveyed in January by Reuters/University of Michigan say their homes have appreciated in value in the last year.
That is in unhappy comparison to August 2005 when 76 percent of home owners reported gains in their home’s value.
The percentage of home owners who said they have a gain was at 65 percent in January 2006 and 52 percent in January 2007.
Recent declines have been particularly steep among home owners residing in the Northeast as well as for consumers who owned moderately priced homes. The survey also indicated that consumers don’t expect declines to persist, but they do think the rate of increase in home prices will continue to be slow in the years ahead.
Source: Reuters News (01/25/08)
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