Home price expectations highest since 2005.

From Gallup:

More in US Expect Local Home Values to Rise

Sixty-one percent of U.S. adults predict housing prices in their local area will increase in the next 12 months, up from 55% a year ago and the highest Gallup has measured since 2005.

Americans’ optimism about home values continues to recover from where it was after the housing bust and recession. Between 2008 and 2012, only as many as one-third of Americans, including a low of 22% in 2009, believed local housing prices would increase.

By 2013, a majority again held this view for the first time since 2007. This year, the percentage expecting housing-value gains pushed past 60%.

The high point in Gallup’s trend was 70% in 2005, the first year it asked the question and shortly before U.S. home values hit their peak.

These expectations largely mirror what has happened to U.S. home values over the past 10 years, with declines between 2007 and 2011, and increases beginning in 2012 and continuing since then.

In addition to the 61% currently expecting local housing prices to rise, 28% predict they will stay the same and 10% say they will decrease.

Americans — both those who own a home and those who do not — appear to be cognizant of trends in home prices. With U.S. home values showing consistent increases over the past five years after several years of decline, Americans expect local home prices to continue to rise. While Americans’ optimism is not yet back to where it was during the housing boom in the mid-2000s, it is now the closest it has been since the housing bubble burst in 2007.

The continued increase in housing prices leads to questions of whether another housing bubble could occur. While prices now are nearly where they were a decade ago, houses are more affordable because of lower interest rates, and banks are more reluctant to issue risky mortgages than they were before the mid-2000s housing market crash. Still, if housing prices continue to rise and interest rates increase, the potential for a new housing bubble will grow.

This entry was posted in Demographics, Economics, Housing Bubble, National Real Estate. Bookmark the permalink.

43 Responses to Home price expectations highest since 2005.

  1. Fabius Maximus says:


  2. grim says:

    I think just MLSing it again with a regular brokerage is pushing on a string. Any other suggestions? Know a really aggressive agent on the 287 corridor north of 78 who will actually work it for additional success based comp? Or is there an incentivizing split structure – 2%/2% with $20k to either agent that brings buyer? Are those cheap fixed rate MLS listing services legit, would I get buyer agent attention going that way and offering a straight up 5% to buyer agent?

    You have all approvals to build? Site plans approved? Building plans approved? Good perc? Sewers? No bullshit wetlands? If you are seeking to convert a buyer to be a builder – will you offer financing on the land until construction is complete? Do you have a builder and estimates lined up? Trees down and lot cleared?

    Why are you trying to sell property like you sell a house? You clearly realize when the agents are trying to do it, but you don’t realize you are doing it yourself.

    Secondly, if you are trying to sell to a builder, sell to a builder. Do it yourself. Builders don’t want to buy from agents. Not to mention that at $500k, there ain’t much meat on the bone. What town is this in that you think a builder is going to go out on a $1.5m flyer? Hopefully we’re talking Mendham or Bernardsville and not Randolph or Chester.

  3. The Great Pumpkin says:

    No kidding. Like clockwork….

    “Still, if housing prices continue to rise and interest rates increase, the potential for a new housing bubble will grow.”

  4. leftwing says:

    Site plan yes. No wetlands, conservation, or Highlands. Good perc, if update required my cost/risk.

    No problem on TBB. Would welcome working with a builder to offer TBB to buyer and intend to reach out to them on that option. No problem carrying land cost until closing, provided I don’t get exposed re: any construction loans. Cross that bridge when I come to it.

    The neighborhood took a hit, as will I, but there is still “meat on the bone”. Sales dipped since crash but there have been three all between $3.0 and $3.4. Realistically, I would target a home on the property at $2.0+ for builder, can price land to that level.

    **Why are you trying to sell property like you sell a house?** Educate me please.

    I’m starting from the premise that just a straight up MLS listing is not best way. I see three types of buyers? Builders, people specifically looking to purchase land to build in that area, and people who would purchase the land to build but need a *push*.

    For me first two groups are easy:

    Builders: best prospect, clean and easy, all about their availability and cost/return. I contact them directly. Don’t need a sell or buy side broker for that.

    People actually looking to purchase land in that specific area to build: tiny group, they will find the property if they are looking, don’t need a sell side broker. Do need to take care of the buy side.

    Potential buyers: They need a nudge to change their search areas, or to move from buy to build, or to actually pull the trigger on build. Bigger group, harder to identify and reach. I would need to rely on buy side and to a lesser degree third party professionals (architects, etc) to reach them. Don’t need a sell side broker for that. Do need to take care of buy side and IMO incentivize them with more than just a commission split. I can reach third party professionals directly.

    Seems from above the sell side is superfluous. I need to take care of the buy side, and well if I want to get their attention? I can reach out to builders/professionals directly.

    So plan becomes:
    Zillow or cheapo MLS listing?
    Market directly to builders at a discount.
    Market to third party professionals with a decent finders fee ($25k?)
    Protect buy side brokers at full 6%?

    Thanks for feedback so far. More help welcome.

  5. chicagofinance says:

    go big red

    leftwing says:
    April 24, 2017 at 9:32 am
    More help welcome.

  6. leftwing says:

    Yeah, lol, on that one chi. Big red mark from the sucker punch I’m taking on this property.

  7. leftwing says:

    Hey, you interact with potential buyers. $25k finders fee. Have anyone looking for a more bucolic setting?

  8. Fabius Maximus says:

    100 days in office, zero bills signed into law, several dozen campaign promises broken already, generally an embarrassment on a daily basis…

    Are we great yet Gary?

  9. Fast Eddie says:


    Do you realize the Obama legacy is President Trump? Do you realize how many seats have been lost under dem0crat control? Do you realize all upper court appointments will be in Republican control? Are we great yet? Yes, because every day your side will be reminded of the misery that is your ideology. It’s pathetic… f.ucking pathetic… a real f.ucking freak show.

  10. Juice Box says:

    Fab your TDS is flaring up go and get treatment already. Electroconvulsive therapy (ECT) is being performed at the Mayo Clinic that should give you some relief.

    Out of the 3,938 pieces of legislation submitted by the 115 Congress so far this year Trump has signed about 30 of them into law.

  11. D-FENS says:

    For Bill Nye’s take on popular culture…here’s a skit he did on his show “Bill Nye Saves the world”


  12. The Original NJ ExPat says:

    When I think of something that won’t sell West of 287 I think close to the highway in Boonton.

    Hopefully we’re talking Mendham or Bernardsville and not Randolph or Chester.

  13. The Original NJ ExPat says:

    or worse, Butler.

  14. The Original NJ ExPat says:

    untrue. Poor FabMaxipad – he’s still in denial.

    100 days in office, zero bills signed into law

  15. Comrade Nom Deplorable, The G.O.A.T. says:


    “Are we great yet Gary?”

    Obama isn’t president
    Hillary isn’t president.
    Gorsuch is on the Court.
    Garland isn’t on the Court.

    On that basis alone, it’s a W.

    I just wish I saw it coming so I would have invested accordingly.

  16. Comrade Nom Deplorable, The G.O.A.T. says:

    More on Bill Nye:


    I seem to recall that Galileo and Copernicus (among many others) were threatened with imprisonment for their scientific apostasy.

  17. Grab them by the puzzy says:


    In his “Contract with America” for his first 100 days, Trump made 10 promises.

    None have been delivered.

    Most have been outright ignored.

  18. Steamy Cankles Foundation says:

    Bill Nye’s is not even a scientist really. He’s an engineer turned comedian. Why anyone would pay any attention to his political opinions are beyond me. Much like the gravitas the left likes to give economists who are partisan hacks or politic-based comedians who marry hookers. Bill Nye is no more knowledgeable a source on meteorology or climate science than is Big Bird.

  19. Steamy Cankles Foundation says:

    Hey Moana,

    Did you see these tweets from your so-called hero, Talcum X.

    In one tweet, King claimed that the “white male obsession” with guns is “compensation for small pen1ses & low sex drive.” In another, the former pastor claimed that white men shoot “big black guns” because it gives them a “rac1al-psychosexual high.”

    Another hero of the ignorant left.

  20. Steamy Cankles Foundation says:


    I imagine you follow Mickey Mouse too?

  21. Tywin says:

    Have to love pasting titter babble from BLM clowns who never held a real job.


  22. Raymond Reddington says:

    SCF ,
    Ok. Maybe Nye is not the most knowledgeable but I would put money on him over Big Bird..

  23. Steamy Cankles Foundation says:

    RR. I would disagree. You clearly have not performed your research.


  24. Grab them by the puzzy says:


    If you wrote Trump’s dialogue as a character
    in a novel satirizing American politics,
    no one would buy it:

    President Donald Trump’s interview with Associated Press’s Julie Pace was a doozy.

    In a freewheeling conversation intended to cover Trump’s first 100 days in office, the president made wild assertions about his leadership, pushed false premises about his popularity and success, and made it explicitly clear that there are times he doesn’t know what he is talking about.

  25. Fast Eddie says:

    Since leaving office, Obama has gone kitesurfing in the Caribbean with British billionaire Richard Branson.

    He then spent nearly a month in French Polynesia, where he vacationed on media mogul David Geffen’s yacht — and was reportedly working on his book.


    Did he step over the dead bodies in Chicago preparing the next generation of leadership?

  26. Comrade Nom Deplorable says:


    “Talcum X”

    I love it!!!

  27. Comrade Nom Deplorable says:

    Moana’s Puzzy,

    “None have been delivered.

    Most have been outright ignored.”

    And your problem is what, exactly?

  28. Fast Eddie says:

    We are winning in Syria. We are winning in Iraq. We are winning in Afghanistan.

    ~ Barky Soetoro

  29. Fabius Maximus says:

    Gary to paraphrase

    “You now have GOP majorities in the House, Senate and the Whithouse (sic)… I don’t want to hear one f*cking excuse from, a Trump voter, Obama Blamer or a wingnut ever again.

    Everything from this point forward should smell like a rose and I expect a greatness to be handed to me on a golden platter. “

  30. Fabius Maximus says:

    “We are going to convene my top generals and give them a simple instruction. They will have 30 days to submit to the Oval Office a plan for soundly and quickly defeating ISIS. We have no choice.”

  31. Fabius Maximus says:

    Is ISIS on Double Secret Probation and we just don’t know it?


  32. Juice Box says:

    home equity “startup”

    Sell equity to investors rather than accruing debt by refinancing.


  33. Fast Eddie says:

    I don’t want to hear one f*cking excuse from, a Trump voter, Obama Blamer or a wingnut ever again.

    As long as the progressive left is reduced to nothing but random protests in p.ussy hats, I could care less if Trump is banging Bill O’Reilly on the front lawn during a keg party. The left is not in charge, that’s all that matters.

  34. Fast Eddie says:

    Donald Trump will never be the president of the United States.

    ~ Barky Soetoro

  35. chicagofinance says:

    Obama kissing the a$$ of those who have the least ability to objectively critique him………..absolute tripe!

    “Young people, he said, have to become involved because they are the only ones who can change things.

    The only folks who are going to be able to solve that problem are going to be young people, the next generation. And have been encouraged everywhere I go in the United States, but also everywhere around the world to see how sharp and astute and tolerant and thoughtful and entrepreneurial our young people are. A lot more sophisticated than I was at their age,” Obama said.”

  36. The Original NJ ExPat says:

    Now that Susan Rice, the Carter Page FISA warrant, and whatever the name of that white stupid b1tch is, have come to the fore, I notice that suddenly Trump as a colluder with Russia has fallen out of the press headlines. All I can think of is:


  37. Fabius Maximus says:
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