Good News on Homeownership Confidence

23 Jul

I just read this article, on increasing confidence in homeownership, and wanted to share it.  I have seen this to be true in the Branson, Tri-Lakes area of the Ozark Mountain’s located in southwest Missouri.  Another testimonial to what I am labeling “The Perfect Storm” in real estate today.  Historically low home prices paired with almost non-existent interest rates.

Brookfield Real Estate and Relocation Affiliates Inc., owner of the Prudential Real Estate franchise network, recently released the quarterly Prudential Real Estate Outlook Survey showing that Americans’ confidence in homeownership and real estate continues climbing from the first quarter and a year earlier.

Signs of growing confidence are widespread, according to the national survey. For instance:

• 69 percent believe that real estate is a good investment despite the market volatility of the past few years, up 6 percentage points from the first-quarter 2012 survey and 17 percentage points from first quarter 2011.

• 72 percent expressed confidence that the real estate market and property values will improve during the next two years, including a 6-point jump among those “very confident” or “confident” vs. the first quarter 2012, and a 14-point gain in this subset over first quarter 2011.

• Nearly two-thirds (64 percent) of respondents have a favorable perception of the U.S. housing market, up from 60 percent in first quarter 2012 and 52 percent in first quarter 2011).

“The American Dream is clearly on the mend,” says Earl Lee, president, Prudential Real Estate. “Americans are feeling better about homeownership and the ongoing recovery taking place in residential real estate. Many are increasingly optimistic about their personal circumstances and, with housing affordability near all-time highs, they want to act on the opportunity.”

“Real estate markets are improving around the country and consumers face many choices,” concludes Lee. “Consumers should seek out a real estate professional who can help them make the best choices to suit their needs.”

Deb Mundell, Keller Williams Tri-Lakes

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