Homeowner Confidence Survey

Overview:

According to the Zillow Q3 Homeowner Confidence Survey, released November 18, 2009, homeowner confidence was all over the map in the third quarter, as home values in some parts of the country stabilized while other areas saw continuing declines. Homeowners in the Northeast were the most cynical about their own homes’ values over the past 12 months, although the region posted the highest percentage of homes increasing in value during that same time period, according to the Zillow Q3 Homeowner Confidence Survey  and the Zillow Q3 Real Estate Market Reports.

Quick Facts:

• Fewer than half (49 percent) of homeowners say their own home’s value decreased in the past 12 months; in reality, 72 percent of U.S. homes declined in value.
• Homeowners in the Northeast, for the first time since the survey was fielded, believe that home values performed worse than they actually did over the past year.
• Forty-one percent of homeowners say their own home’s value will increase in the next six months; 43 percent say the value will stay the same.
• Pent-up supply, a component of shadow inventory, remained relatively steady in Q3, with 31 percent of homeowners saying they would be at least somewhat likely to put their home on the market with signs of a turnaround.

Methodology:

The Zillow.com Homeowner Confidence Survey is fielded quarterly by Harris Interactive to determine the confidence level of American homeowners when it comes to the value of their own homes and their local real estate markets. The Zillow Home Value Misperception Index measures the gap between homeowner perceptions of changes in their home’s value and actual home value changes. An index of zero would mean homeowner perceptions are in line with actual values. Additional survey methodology is captured in the PDF.

Additional Resources:

For additional information about the Q3 Homeowner Confidence Survey, check out the press release, blog post,  PDF and graphics (see below).

To request an interview, contact Zillow PR at press@zillow.com or 206-757-2701.