Yesterday, the National Association of Realtors released their quarterly household survey tracking current real estate trends. The Housing Opportunities and Market Experience (HOME) survey can be viewed in full here; below are some of the most interesting highlights about homeowner attitude, expectations for the real estate market, and more.
- Half of surveyed American households believe the economy is currently improving, while 44% believe we are currently in a recession
- 82% of homeowners and 68% of renters think it’s a good time to buy a home
- 61% of current homeowners believe it’s a good time to sell a home
- 84% of all households believe owning a home is a good financial decision, regardless of age group or education level
- 85% of all households believe owning a home is part of their personal American Dream, 36% of whom also included their desire to raise a family
- About 65% of respondents believe it would be “somewhat” or “very” difficult to get a mortgage
- 91% of respondents said that home prices in their area have either remained stable or risen over the past year
The HOME survey also included a Personal Financial Outlook Index, which measures age, income, household type, and location on a monthly basis.
- Renters, those living in urban areas, and younger households are reportedly more optimistic about their future financial situation
- As of this month, the index is at its highest current reading, which shows increasing confidence in expected financial situations across the board