Skip navigation
Watchlist Sponsored By :


Current DateTime: 07:11:37 26 Nov 2009
LinksList Documentid: 24355697
  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

  • Wines for the Holidays

      Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES


Current DateTime: 07:11:37 26 Nov 2009
LinksList Documentid: 33793611
  • How Well Do You Know Your Bird?

      Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.

  • A Healthier & Wealthier You

      Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.

  • The Billionaire BFF's

      Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?


Current DateTime: 07:11:37 26 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

powered by digg
Few Americans Expect Home Prices to Rise Soon: Survey
By: Reuters | 06 Aug 2007 | 11:58 AM ET
Text Size

Home prices continuing to drop.
AP / AP
Home prices continuing to drop.

Half of American homeowners do not expect their house to gain in value in the coming year although those who said the value of their property was declining appeared stable, according to a survey.

Last month, 17% of homeowners reported that their home had lost value, unchanged from the second quarter and above the 7% recorded a year ago, said Richard Curtin, director of the Reuters/University of Michigan Surveys of Consumers in a statement.

About 49% of the respondents reported gains in the values of their homes, also unchanged from the second quarter, but below the 64% recorded in July last year.

"More importantly, when asked about prospective changes in the value of their home, half of all owners reported that they didn't anticipate any appreciation in their home value during the year ahead for the fourth consecutive month," Curtin wrote.

Home price appreciation has slowed sharply during the past two years as mortgage rates have risen and first-time buyers were priced out of the market. Some data shows U.S. home prices are declining, which has contributed to a surge in defaults and foreclosures.

According to the Reuters/University of Michigan Surveys of Consumers, one-in-five home owners in the Northeast expected declines in their home values during the year ahead. This was twice that of one-in-10 in Southern home owners who anticipated falls.

"Over the past few months, home price expectations for the year ahead worsened among residents of the West and Northeast. Midwestern residents reported the weakest home price expectations for the year ahead and over the longer term," said Curtin.

Some 14% of homeowners surveyed in July said they expected house prices to fall in the year ahead, down from 16% who said this in June. In July, only about 37% expected prices to rise in the coming year.

Homeowners expect a rise of 0.2% in home values, unchanged from the forecast they gave in June, according to a median of respondents' forecasts.

Over the next five years, consumers expect home prices to rise by a median 3.1%, up from a median 2.9% they forecast in June.

Copyright 2009 Reuters. Click for restrictions.
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
  • Ever wished your cab driver would stop nattering and just get to where you're going? Well that moment is near(er).
  • Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
  • Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
  • More shoppers than ever plan to comparison-shop this season. Who will benefit?
  • It may be the most unusual guide to business you'll read.
ADD COMMENTS
Remaining characters


Current DateTime: 01:44:15 26 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 01:04:07 26 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 01:04:08 26 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 01:04:08 26 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters