Some Home Owners Pessimistic About Home Values
Half of U.S. home owners don’t expect any appreciation in the value of their homes in the coming year, according to the Reuters/University of Michigan Survey of Consumers, released on Monday.
Seventeen percent of home owners surveyed last month reported that their home had lost value. That number was unchanged from the second quarter, but up 7 percent from a year ago.About 49 percent of the respondents reported gains in the values of their homes, also unchanged from the second quarter, but below the 64 percent recorded in July last year.Overall, 37 percent of home owners said they expected home prices to rise in the year ahead, while 14 percent expected home prices to fall. Source: Reuters (08/06/07)