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More adults believe housing prices will rise

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A new Gallup poll show 61 percent of U.S. adults believe housing prices in their local areas will rise in the next 12 months.

About 28 percent think they’ll stay where they are, and 10 percent say they’ll drop. That’s up from 55 percent a year ago – and the highest percentage Gallup has measured since 2005.

In the Eastern U.S., slightly more than half the respondents predicted increases. Western U.S. residents were more gung-ho, with nearly three-quarters saying prices will rise. Two-thirds still say it is a good time to buy a house, but 30 percent say it is a bad time.

Since 2015, an average of 61 percent of U.S. adults report owning a house. Both those who owns homes and those who don’t are cognizant of trends in home prices, according to Gallup.

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