According to Zillow Real Estate Research, “homeowners are still generally confident about the current state of the housing market, but are increasingly concerned about the future.”
Western markets, such as San Jose, Seattle, Denver, and Phoenix posted the highest confidence, as well as the largest improvements in overall confidence since January.
Compared to renters, homeowners’ confidence fell more, especially in coastal markets such as New York, Philadelphia, and San Diego.
But many homeowners are concerned about the future, more than results from the same study conducted in January 2015. “Perhaps looming interest rate hikes by the Federal Reserve, perhaps talk of overvaluations, perhaps nightmares of the last housing bubble and bust – is making homeowners more worried about the future, especially in California and the Northeast,” Zillow reports.