A recent telephone survey of 1,000 American adults, 58 percent said they feel the value of their home is more than what they still owe on their mortgage. That is unchanged from March and consistent with views since last October. Thirty-one percent now say their home is not worth more than they owe and 11 percent were not sure.
In addition, 38 percent of homeowners expect their home’s value to go up over the next year. That’s up just two points from March but ties the highest level of confidence since early 2009, first reached in October. A year ago, 35 percent expected their home to be worth more. Only 14 percent expect housing values to go down over the next year, while 46 percent think they will remain about the same.
Forty-seven percent expect their home’s value to go up over the next five years, down four points from March and the lowest finding since September. Only 14 percent say the value will go down in that period and 33 percent believe their home’s value will stay about the same over the next five years.