Online Home Sellers Hold the Line on Price Expectations

March Target of $215,000 Down Less Than 1% From Prior Month; Six of

Top 10 Markets Show Increases, HomeGain Reports



Apr 24, 2001, 01:00 ET from HomeGain

    EMERYVILLE, Calif., April 24 /PRNewswire Interactive News Release/ --
 Homeowners using the Internet to initiate a home sale during March held the
 line on the average nationwide price expectation with a mark of $215,000, down
 less than 1 percent from February's price target of $217,000. The March figure
 is 4.6 percent lower than the $225,000 mark registered in March 2000 at
 HomeGain (www.homegain.com), according to the firm's monthly Online Home
 Seller Index.
     Among the nation's top 10 metropolitan markets, six registered increases
 in price expectation in March, lead by New York City (+12%) and Orange County
 (+10%). The most significant decline of the month came in San Diego, down
 11 percent from February. The average increase among the six cities on the
 plus side was 7.3 percent, while decliners averaged a dip of 4.7 percent.
     "The housing market took a breather from the doom and gloom of January and
 February, when expectations dropped between five and six percent both months,"
 Bradley Inman, founder and CEO of HomeGain said. "We'll have to wait and see
 what happens when home buying season kicks into gear. But the modest increases
 in six of the nation's biggest markets in March give hope for a reasonably
 positive spring."
     In the latest edition of the HomeGain Online Home Seller Index, released
 today, HomeGain also reports that March's average nationwide price target of
 $215,000 was $40,000 (23 percent) higher than what the typical existing home
 sold for in the U.S. during the previous month, according to the National
 Association of Realtors.
     Consumers in the San Francisco Bay Area again led the nation in March with
 the highest price expectation at HomeGain of $384,000, an increase of
 4 percent ($16,000) over February's mark of $368,000.
     Rounding out the Top 10 cities for the highest price expectation in March
 (increase / decrease versus February.)
 
     -- Orange County, Calif. -- $331,000 (+10%);
     -- New York City -- $314,000 (+12%);
     -- San Diego -- $267,000 (-11%);
     -- Los Angeles -- $253,000 (-7%);
     -- Boston -- $242,000 (-0.4%);
     -- Seattle -- $236,000 (+10%);
     -- Denver -- $219,000 (-0.4%);
     -- Washington, D.C. -- $211,000 (+4%)
     -- Detroit -- $210,000 (+4%)
 
     In March, approximately 32 percent of all sellers polled expected to sell
 a home within the next eight weeks, down a single percentage point from
 February.  By comparison, 59 percent of online home sellers surveyed back in
 July said they planned to sell within an eight-week period, a high for 2000.
     When it comes to housing bang for the buck, these cities in March
 registered the lowest price per square foot (based on lower than average price
 expectation and higher than average square footage per home):
 
     -- Atlanta -- $68;
     -- Orlando -- $70;
     -- Houston -- $71;
     -- Philadelphia -- $77;
     -- Dallas -- $80;
     -- Las Vegas -- $83;
     -- Cleveland -- $85;
     -- Austin -- $87;
     -- Miami -- $88
     -- Minneapolis -- $89
 
     By contrast, cities with the priciest real estate by the square foot in
 March were:
 
     -- San Francisco Bay Area -- $222 per square foot;
     -- Orange County -- $176;
     -- San Diego -- $163;
     -- Los Angeles -- $145;
     -- New York City -- $137;
     -- Seattle -- $124;
     -- Boston -- $122;
     -- Detroit -- $117;
     -- Denver -- $112;
     -- Chicago - $110
 
     HomeGain's Online Home Sellers Index is based on feedback provided by home
 sellers that registered in March.
     HomeGain is a Licensed Real Estate Broker.  State license information is
 available at http://homegain.com/broker.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X30924659
 
 

SOURCE HomeGain
    EMERYVILLE, Calif., April 24 /PRNewswire Interactive News Release/ --
 Homeowners using the Internet to initiate a home sale during March held the
 line on the average nationwide price expectation with a mark of $215,000, down
 less than 1 percent from February's price target of $217,000. The March figure
 is 4.6 percent lower than the $225,000 mark registered in March 2000 at
 HomeGain (www.homegain.com), according to the firm's monthly Online Home
 Seller Index.
     Among the nation's top 10 metropolitan markets, six registered increases
 in price expectation in March, lead by New York City (+12%) and Orange County
 (+10%). The most significant decline of the month came in San Diego, down
 11 percent from February. The average increase among the six cities on the
 plus side was 7.3 percent, while decliners averaged a dip of 4.7 percent.
     "The housing market took a breather from the doom and gloom of January and
 February, when expectations dropped between five and six percent both months,"
 Bradley Inman, founder and CEO of HomeGain said. "We'll have to wait and see
 what happens when home buying season kicks into gear. But the modest increases
 in six of the nation's biggest markets in March give hope for a reasonably
 positive spring."
     In the latest edition of the HomeGain Online Home Seller Index, released
 today, HomeGain also reports that March's average nationwide price target of
 $215,000 was $40,000 (23 percent) higher than what the typical existing home
 sold for in the U.S. during the previous month, according to the National
 Association of Realtors.
     Consumers in the San Francisco Bay Area again led the nation in March with
 the highest price expectation at HomeGain of $384,000, an increase of
 4 percent ($16,000) over February's mark of $368,000.
     Rounding out the Top 10 cities for the highest price expectation in March
 (increase / decrease versus February.)
 
     -- Orange County, Calif. -- $331,000 (+10%);
     -- New York City -- $314,000 (+12%);
     -- San Diego -- $267,000 (-11%);
     -- Los Angeles -- $253,000 (-7%);
     -- Boston -- $242,000 (-0.4%);
     -- Seattle -- $236,000 (+10%);
     -- Denver -- $219,000 (-0.4%);
     -- Washington, D.C. -- $211,000 (+4%)
     -- Detroit -- $210,000 (+4%)
 
     In March, approximately 32 percent of all sellers polled expected to sell
 a home within the next eight weeks, down a single percentage point from
 February.  By comparison, 59 percent of online home sellers surveyed back in
 July said they planned to sell within an eight-week period, a high for 2000.
     When it comes to housing bang for the buck, these cities in March
 registered the lowest price per square foot (based on lower than average price
 expectation and higher than average square footage per home):
 
     -- Atlanta -- $68;
     -- Orlando -- $70;
     -- Houston -- $71;
     -- Philadelphia -- $77;
     -- Dallas -- $80;
     -- Las Vegas -- $83;
     -- Cleveland -- $85;
     -- Austin -- $87;
     -- Miami -- $88
     -- Minneapolis -- $89
 
     By contrast, cities with the priciest real estate by the square foot in
 March were:
 
     -- San Francisco Bay Area -- $222 per square foot;
     -- Orange County -- $176;
     -- San Diego -- $163;
     -- Los Angeles -- $145;
     -- New York City -- $137;
     -- Seattle -- $124;
     -- Boston -- $122;
     -- Detroit -- $117;
     -- Denver -- $112;
     -- Chicago - $110
 
     HomeGain's Online Home Sellers Index is based on feedback provided by home
 sellers that registered in March.
     HomeGain is a Licensed Real Estate Broker.  State license information is
 available at http://homegain.com/broker.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X30924659
 
 SOURCE  HomeGain