Survey Says: Consumers Believe in Homeownership

Here is a piece of encouraging news for everyone in our industry. It is comforting to know that consumers still believe in homeownership and recognize this as the ideal time to buy. With reduced home prices matched with low interest rates, we are experiencing a true recipe for real estate success. The big question now: Who is still sitting on the fence?”

Market In Review: The Wells Fargo View Sm

Despite the ups and downs in the economy, Americans still believe in the dream of homeownership. According to the June PULSE Top 25 Metropolitan Statistical Areas Survey, 83 percent of consumers believe buying a home is a good financial decision.

Attitudes of respondents in their prime home purchasing years (ages 25 to 44) had not been adversely affected by the market in the past several years.

In fact, three-fourths of survey respondents said now is a good time to purchase a home because of home price declines. Low interest rates (see chart), tax benefits, and seller incentives also remain attractive for consumers looking to purchase their first home or move up from their current home.

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