November 1st, 2011
Zillow recently released the results to their Buyer IQ Test, which tested potential home buyers to see how familiar they are with the home buying process.
Much of home buying is undoubtedly confusing, but those who participated in the survey did pretty well (see results below).
One surprising result, was that 42 percent of buyers thought that home values appreciate an average of 7 percent a year. In reality, home appreciate an average of 2 to 5 percent a year.