More real estate professionals are optimistic about the direction of home prices, according to a fourth-quarter survey by HomeGain of more than 200 practitioners and brokers nationwide.
Sixty-five percent of real estate professionals say they expect home values to rise in the next six months, up from 51 percent in the previous quarter. In the fourth quarter of 2011, only 15 percent of practitioners said they expected home prices to rise.
“We are seeing a continued increase in optimism about the direction of home prices,” says Louis Cammarosano, general manager of HomeGain. “Real estate agents expect the recent pick up in the real estate market to continue in the coming two years.”
Indeed, the optimism in home values increases even more the further the outlook: Seventy-nine percent of real estate professionals and 62 percent of home owners say home values will likely increase in the next two years, according to the survey. Eleven percent of real estate practitioners say they expect home values to fall in the next six months.
Here are the 10 states where real estate professionals are most confident about rising home prices over the next six months:
- Idaho
- Michigan
- Arizona
- Texas
- Indiana
- California
- Florida
- Virginia
- North Carolina
- Colorado
The following are the top states where homeowner confidence about home values over the next six months is highest:
- Arizona
- Nevada
- Texas
- Colorado
- Wisconsin
- Washington
- Michigan
- Virginia
- Massachusetts
- Tennessee
