81 percent of current home owners consider now a perfect time to purchase a property.
Chicago, IL (PRWEB) April 26, 2014
Peoples Home Equity was intrigued by a recent Gallup poll, published on April 24th titled “Optimism for Rising U.S. Home Values Is Highest Since 2007.” Americans think that now is a good time to purchase a home. The survey shows that 72 percent of Americans think that now is a good time to buy a property while only 24 percent call it a bad time.
Out of over a thousand respondents of the poll, “56%, expect average home prices to rise” in their local area. This percentage is a large improvement when compared to the only 21 percent of individuals who thought home prices would rise back in January 2011. About 34 percent of Americans are optimistic and expect the prices to remain at about the same level.
A graphic on Gallup.com, which shows observations starting from 2005, shows that the Americans were not very optimistic about real estate from 2008-2011, but this changed in April 2012 when public optimism on home values outweighed pessimism by 33 percent to 23 percent. Now, five times more Americans strongly believe that their home value will keep increasing.
Peoples Home Equity considers that the respondents' opinions are most likely influenced by their own experiences. 74 percent of the homeowners in America claim that their home is worth more today than when they bought it. In 2012, 53 percent made this claim, while in 2013 - 63 percent. Prices have risen by double digits in western states like California. Also, 72 percent of those living in the West think that their home value will increase further.
While American real estate market was shaken during in 2008, things seem to be recovering rapidly now. Optimism has returned to the market as 81 percent of current home owners consider now a perfect time to purchase a property. Clearly housing recovery is continuing on its positive route. Lenders such Peoples Home Equity are happy that these positive opinions may help foster every increasing housing activity over the next 12 months.
If interested in securing a competitive, lower rate mortgage, consider speaking with a Peoples Home Equity loan officer today details at: 262-563-4026.