Sun Coverage
Nevada real estate agents are growing more pessimistic about the market.
Eighty-two percent of Nevada real estate professionals said home prices would decline over the next six months, according to a survey conducted by California research and marketing company HomeGain. The survey found that real estate professionals in Nevada are more pessimistic about prices than in the second quarter of 2010, when 42 percent thought prices would rise and 29 percent thought they would decline.
During the first quarter, 71 percent said prices would decrease over the next six months. None said prices would increase.
Nationally, 50 percent of agents said they expect home price decreases over the next six months, and 12 percent expect increases.
The same survey of Nevada homeowners found 63 percent said prices would fall during the next six months, and just 3 percent expected an increase.
Real estate professionals said homeowners with homes on the market are becoming more realistic about what they are worth.
During the first quarter of 2011, 58 percent said they thought their homes were worth 10 percent to 20 percent more. That number fell to 28 percent in the second quarter.
Some 37 percent of buyer clients said they thought homes were fairly priced compared with 13 percent in the first quarter.
Nevada real estate agents were critical of the performance of President Barack Obama. Just 18 percent approved of his performance, down from 44 percent in the first quarter. Of the 82 percent who were critical, 55 percent said their disapproval was strong.
Among Nevada homeowners surveyed, 60 percent disapproved, including 43 percent who did so strongly.