Home ownership remains important to 96 percent of Americans

home ownershipHome ownership has not lost its luster

Survey results just released by Prudential Real Estate reveal that, in spite of the collapse of the real estate market and the challenges faced by many home owners the past few years, 96 percent of Americans still feel that home ownership is important.  

The survey also showed that consumers remain pretty optimistic about the future of the real estate market with  77 percent of respondents indicating that they feel the real estate market and property values will recover.  This is up from 73 percent that felt this way at the end of 2012 and up from 70 percent that felt this way a year ago.

Other Survey Highlights Include:

  • 87% of sellers are committed to seeing a sale through if their home doesn’t sell quickly, and 67% are open to additional guidance from their broker/agent on how to better market their home. 62% are willing to make repairs or redecorate in order to attract more interest.
  • Among all age groups surveyed, Generations X and Y remain most confident that real estate and property values will recover.
  • Confidence among “contemplators” – those who considered buying or selling a home within the past year but didn’t – jumped a full 12 points from Q2 2012 figures.
  • Contemplators’ net favorability of the real estate market increased 10 percentage points over Q2 2012 figures. Primary reasons why contemplators haven’t made a move include “waiting for the right opportunity” and “haven’t found the home I want yet.”
  • 78% of women said homeownership was “very important” vs. 70% of men.

 

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