According to a national survey released today by Prudential Real Estate, Americans are significantly more optimistic about homeownership than they were a year ago. According to the survey, 60 percent of Americans have favorable views toward the real estate market. That’s up from 52 percent last year.
The survey shows other signs of increased consumer optimism as well:
- Ninety-six percent agree or somewhat agree that now is a good time to buy.
- A full 70 percent of respondents have some degree of confidence that property values will improve over the next two years; with an 8 point increase in those very confident or confident compared to last year.
- 63 percent believe that real estate is a good investment despite the recent market volatility; that’s up 11 points from last year.
- 80 percent said homeownership is very important to them; only 15 percent said the economic downturn made homeownership less important.
- 77 percent agree that homeownership strengthens a sense of community with 87 percent agreeing or somewhat agreeing that neighborhood comprised of homeowners have a stronger sense of community than neighborhoods made up mainly of renters.
- 94 percent of respondents believe that finding the right home and community are crucial to helping their family be happy.
- 93 percent of respondents said that the housing crisis reminds them that they must be more careful about buying and selling property.
- More than 90 percent of respondents said a good real estate sales professional can help them make the right choices about homes and communities; and 71 percent believe good agent representation is more important than ever, up 4% from last year’s survey.
SOURCE of survey data: Prudential Real Estate