Home Owners Optimistic About House Values

In a survey, about 55 percent expect their home value to rise slightly, while 26 percent expect those values to increase a great deal.
By: Eduardo Kaplan: REALTOR® Magazine Online
Despite recent slumps in the housing market, most U.S. homeowners are optimistic about the value of their properties, according to a nationwide poll conducted by the Pew Research Center.

About 55 percent expect the value of their homes to rise a little, while 26 percent expect those values to go up a lot.

Seventy-five percent say the recent increase in the value of their home has had little or no effect on their personal finances. About 34 percent of home owners say their homes account for all or most of their personal financial worth, while another 34 percent say it represents half of their worth.

The survey also found 75 percent of all home owners say they are currently paying a mortgage, with 20 percent carrying either a second mortgage or a home equity loan. That percentage rises to 28 percent among younger home owners ages 30 to 49.

The survey found 24 percent of all home owners have a second home or an investment property they own.