Owners Optimistic About Home Values

More than 16 percent of home owners say their houses increased in value during the past year, the highest percentage in nearly two years, according to a Thomson Reuters/University of Michigan survey.

While 75 percent of home owners viewed current home-buying conditions as good, citing attractive prices and low mortgage rates, about 89 percent thought market conditions for selling a home were poor. While still an overwhelmingly negative number, it was still better than the results of the May 2009 survey when almost 100 percent of home owners panned the climate for sales.

Some 43 percent of home owners said their home decreased in value during the past year. Nevertheless, home owners believe their homes will ultimately rise in value, with the average annual anticipated gain over the next five years at 2.1 percent.

Source: Reuters News, Julie Haviv (05/21/2010)

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