ICR Survey: 9% of Homeowners Report Having Difficulty Paying Their Mortgage or Taxes; in the Northeast, 12% Report This Difficulty
Thursday September 13, 4:51 pm ET

3% of Homeowners Are Planning on Putting Their Primary Residence on the Market in the Next Three Months

As for Buying a New Primary Residence, Only 2% of Homeowners Plan on Doing So in the Next Three Months

MEDIA, Pa.--(BUSINESS WIRE)--International Communications Research (ICR) conducted a study to understand the impact of today's housing market on homeowners' ability to pay their mortgage or taxes and to assess plans for selling/buying a new primary residence over the next three months.

The following findings are based on a random probability telephone sample of 800 homeowners interviewed between September 6 and September 10, 2007 using ICR's EXCEL omnibus. The margin of error around this sample of 800 is +/- 3.5% at a 95% level of confidence.

Highlights

-- Overall, 9% of homeowners surveyed say they are having difficulty

paying their mortgage or taxes

-- 20% of homeowners with household incomes of under $25,000

report having difficulty paying their mortgage or taxes

-- Regionally, 12% of homeowners in the Northeast report

having difficulty paying their mortgage or taxes followed by

10% in the North Central Region (South: 9%; West: 6%)

-- While only 3% of all homeowners surveyed say the debt they have

against their primary home (mortgage and home equity loans)

exceeds the value of their home, among homeowners with incomes

between $25,000 and $50,000, this percentage is 8%; this finding

is four times higher than any other income group

-- Based on the survey data, don't expect much activity on the home

selling and home buying market over the next three months

-- Only 3% of those surveyed plan on putting their house up

for sale in the next three months; this percentage is

highest in the North Central Region (5%) and lowest in the

West (less than 1%); Northeast: 4%; South: 2%

-- Only 2% of homeowners surveyed plan on buying a new

primary residence in the next three months; regionally, it

is 3% in both the South and West and 1% in the Northeast and

North Central

About ICR's Excel Omnibus

EXCEL is a national, twice-weekly telephone omnibus service designed to meet the standards of quality associated with custom research studies. The EXCEL survey consists of a standard set of introductory and demographic questions supplemented by a changing series of questions on various topics as contracted by participating companies. http://www.icrsurvey.com/Omnibus.aspx

About International Communications Research (ICR)

International Communications Research (ICR), based in the Philadelphia suburb of Media, PA is a top-ranked and nationally recognized market research organization in the business-to-business and consumer markets. Through its research in the U.S. and globally around the world, ICR provides consulting and research insights to its clients on a wide range of issues including branding, market segmentation, customer and employee satisfaction, loyalty, advertising, public relations, multicultural and ethnic marketing, social science, public policy and many others. For more information, please contact International Communications Research (ICR) at 484-840-4300 or www.icrsurvey.com

Contact:

International Communications Research (ICR)

Linda Lamberto, 484-840-4300

Fax: 484-840-4599

info@icrsurvey.com

www.icrsurvey.com

Source: International Communications Research (ICR)