Survey: Homeowners Expect Steady Home Prices
Diana Heeb Bivona
Reuters in conjunction with the University of Michigan conducted a survey that found the majority of U.S. homeowners expect no change in the value of their homes in 2007.
Around 55% of homeowners expect no change in the value of their home. Seven percent of those who responded expect the value of their home to decrease. The remainder of respondents expect an increase.
Homeowners generally are expecting a slight median price increase of 0.1%. That would represent a slowing in expected price appreciation from recent double-digit increases. The result of this slower price appreciation will probably be that the typical homeowner will think twice about borrowing against the equity in their home.
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