According to a
Prudential Real Estate survey, potential house buyers & sellers are growing
more confident that the US real estate market will begin to recover as soon as
next year (2013).
About 63% of
respondents said they considered real estate a good investment, up from 52%
cent last year, the Irvine, California based broker reported.
Mr. Stephen Van
Anden, Chief Marketing Officer, Prudential Real Estate said, '' This is the
second consecutive year consumer confidence in housing has improved, signaling
the property market may “finally be climbing out of its deep hole.There is
still a desire for home ownership, & as we see continued improvement in the
job market, there is going to be an unleashing of pent-up demand"
HIGHLIGHTS..!
* 60% of people
surveyed had positive views about the housing market and 70% expected property
values to improve over the next 2 years
* Foreclosures &
declining house prices have contributed to a 6 year real estate slump, rising
employment & low mortgage rates may be bolstering buyer confidence.
* The Federal
Reserve, in its regional Beige Book business survey issued February 29, said
the housing market “has improved somewhat in most districts” with Boston, Cleveland,
Atlanta and Dallas among cities reporting increases in house sales.
* Above 90% of
respondents said the housing crisis is a reminder they must be more cautious in
buying & selling property.
* Nearly 80% of
people polled said home ownership is important to them, while 15% said the
economic downturn made owning a house less important.
* Survey respondents
were 25 to 64 years old with a household income of at least $ 50,000, and
either recently bought or / sold a house
or are considering a purchase or / sale.
* Prudential Real
Estate collected responses from 1,251 people.
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