LOS ANGELES – April 12, 2007 – Eighty-four percent of U.S. residents say home values will hold steady or increase, despite trends to the contrary, a nationwide poll found.
Nearly a third of those surveyed this month predicted home values in their localities would rise in the next six months, a Los Angeles Times/Bloomberg poll said Wednesday. Sixteen percent anticipated a decrease. The rest said values would hold steady.
Before the poll was conducted the National Association of Realtors reported home prices fell 2.7 percent in 2006’s last three months.
The association forecast Wednesday existing-home prices would probably slip an average 0.7 percent this year.
“Housing is always a good investment,” San Diego carpenter Scott Richard Wallace said in an interview after the poll. “I don’t see it ever losing.”
Sixty percent of the poll respondents also said a recession was somewhat or very likely within the next year.
The nationally representative poll of 1,373 adults, conducted by telephone April 5 through Monday, has a margin of sampling error of plus or minus 3 percentage points.
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