With interest rates near historic lows and prices in many markets still well off their highs, a home remains one of the best long-term investments people will make.
WASHINGTON, D.C. (PRWEB) April 03, 2013
Prudential Real Estate, an HSF Affiliates LLC company, recently announced in its end-of-year Outlook survey that consumer perceptions are high in regard to the real estate market. Coupled with historically low mortgage rates, housing price stabilization, and appreciation, in many areas it can be said that now is the time to buy.
“Contemplators,” survey participants who considered, but did not buy/sell a property during the past year, will likely keep their eye on the real estate market. “We feel there are many contemplating real estate now,” said Earl Lee, chief executive officer at HSF Affiliates LLC and president of Prudential Real Estate. “With interest rates near historic lows and prices in many markets still well off their highs, a home remains one of the best long-term investments people will make.”
Highlights of those surveyed include:
- 63% of Americans feel favorably towards the residential real estate market, and are more optimistic about buying, compared to their parents’ generation.
- 73% are at least somewhat confident in the recovering real estate market and values. Almost half of this group is between the ages of 25-34.
- 74% say interest rates are historically low, and now is the time to buy. 87% say Americans should buy homes while mortgage rates and average home prices are low.
- “Contemplators” are more confident, and of those that are ready to buy a home; 41% are waiting for the right opportunity and 31% are waiting for the right home.
The economy appears to have turned a corner and unemployment rates are on the decline. Younger generations are significantly more likely to hold a favorable perception of the real estate market because they weren’t as affected by the downturn. These younger buyers are reaching the stage of their lives where stability for themselves, and their family, becomes increasingly important.
Prudential Real Estate Outlook Survey Methodology
Interviews with 5,000 Americans who are “in the market” to buy or sell a home were conducted online by Edelman Berland, between December 5-14, 2012. Respondents are aged 25-64 with a household income of at least $50,000, and either recently bought/sold a home, or are considering buying/selling a home. The margin of error is ± 1.4% for all respondents.
About Prudential PenFed Realty
Prudential PenFed Realty, wholly owned by PenFed (Pentagon Federal Credit Union), is a full-service real estate company with an annual sales volume over $1.7 billion; serving PenFed members as well as the general public. Recognized as a leading real estate company in its service area, it is ranked among the top Prudential affiliates nationwide. With 47 offices and over 1400+ world-class sales professionals, Prudential PenFed Realty offers complete service coverage in the Maryland, Northern Virginia, West Virginia, Pennsylvania, Delaware and Washington, D.C. markets, as well as Tennessee, Kentucky, North Carolina, Texas, Kansas, and Florida.
©2013 BRER Affiliates LLC. An independently owned and operated broker member of BRER Affiliates LLC. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities. Used under license with no other affiliation with Prudential. Prudential PenFed Realty is an independently owned and operated member of BRER Affiliates LLC. PenFed Membership is not required to conduct business with Prudential PenFed Realty.
Learn more about Prudential PenFed Realty by visiting PenRedRealty.com, call our Career line at 888.732.8233, or email us at: careerline(at)PenFedRealty(dot)com.
About Prudential Real Estate and HSF Affiliates LLC
Prudential Real Estate is a part of the HSF Affiliates LLC real estate brokerage family, which includes Real Living Real Estate and the new Berkshire Hathaway HomeServicesSM brand available later in 2013. Prudential Real Estate franchisees are independently owned and operated. Companies are selected based upon outstanding performance records and high levels of customer service. Real Estate brokerage services are offered through the independently owned and operated network of broker member franchisees of BRER Affiliates LLC.
HSF Affiliates LLC, based in Irvine, Calif., is a joint venture of HomeServices of America and Brookfield Residential Property Services.