According to the second-annual Prudential Real Estate Outlook Survey, a full 60 percent of Americans have favorable views toward the real estate market. That’s up 8 points since last year.
The survey shows that signs of increasing optimism are widespread:
- With interest rates at historically low levels, 96 percent agree or somewhat agree that now is a good time to buy.
- A full 70 percent of respondents have some degree of confidence that property values will improve over the next two years; with an 8 point increase in those very confident or confident compared to last year.
- 63 percent believe that real estate is a good investment despite the recent market volatility; that’s up 11 points from last year.
The survey confirms that despite the recession, homeownership remains a central part of the American Dream. Eight in 10 respondents said homeownership is very important to them; only 15 percent said the economic downturn made homeownership less important.