More than half of U.S. homeowners expect their home’s value to rise in the coming year. For Costa Mesa real estate watchers who track public sentiment as a market indicator, the news comes as a welcome addition to other reports of rising consumer optimism regarding the economy as a whole.
The finding comes from a national telephone and online survey conducted earlier this month by the Rasmussen Reports organization. It signals an acceleration in a year-long trend of rising expectations among U.S. homeowners. A year earlier, fewer than 40% had predicted that their own home values would rise in the coming year. In this latest report, that number has increased to 53%—a leap of 12% over the March finding. According to Rasmussen summary, this amounts to “a record high” in optimism about future home values.
Costa Mesa homeowners who plan to list their own properties in the immediate future have reason to welcome measures of positive expectations. When most people expect Costa Mesa home values to rise, buyers are apt to view current market prices in terms of their investment potential. This can prove to be important—especially when values have been on the rise for a while.
This latest Rasmussen finding was all the more impressive in that it marked the first time in eight years that a majority of those sampled expressed optimism about future home values. It is in sync with a heavy majority of industry prognosticators who predict home value increases in the coming year.
It’s always good news when there is general agreement that Costa Mesa home values are expected to continue to rise. If your own future includes the possibility of buying or selling in the coming year, I’d like to help—call me anytime!