April 7, 2009

Buyers Market

65%

A majority of Americans say now is a good time to buy a home in their area.

With housing prices falling across the country, it’s no surprise that most Americans (65%) believe that it is a good time to buy a home in their area. The flip side, though, is that no one seems to think it’s a good time to sell. Nearly eight-in-ten (79%) of all respondents (renters and owners) see it as a bad time for home selling locally. Those at the center of the housing storm — in the suburbs — are somewhat more likely (83%) than those who live in cities (77%) or small towns (78%) to say it’s a bad time to sell, but not by much. This hurts those who own homes but want to move. Of homeowners who called their homes a “burden,” nearly half (45%) say they are likely to move within five years, but 92% of burdened owners say now is a bad time to sell in their area. Read More