Americans optimistic about homeownership
Posted on Friday, March 16, 2012 at 7:58:59 AM
Americans are significantly more optimistic about homeownership than they were a year ago, according to the second-annual Prudential Real Estate Outlook Survey. An estimated 60 percent of Americans have favorable opinions on the current real estate market, which has resulted in an increase in residential financing applications.
Almost 96 percent agree, or somewhat agree, that now is a good time to buy a home, and 70 percent believe that property values will improve over the course of the year.
"Respondents told us what our sales professionals see every day that, despite recent market volatility, homeownership remains integral to the dreams of most Americans and that consumers' confidence in the housing market is returning," said Earl Lee, Prudential Real Estate president. "As more people look to take advantage of historic interest rates and prices, we believe the foundation for a sustainable recovery is in sight."
The forward marching improvement in the housing market is convincing more and more consumers to begin searching for a home, something that has been largely missing for a few years. Home financing options are increasing, as buyers, sellers and housing professionals hope to further improve the renewed property market by purchasing.