Homeowners Becoming More Optimistic About Home Prices

Dated: 09/10/2014

Views: 152

26 percent of homeowners expect housing prices to rise

Published  11:33 AM EDT Aug 29, 2014
housing house neighborhood iStock
housing house neighborhood iStock
According to a recent report by the Federal Reserve, most homeowners believe home prices will rise within the next year.In the report the Economic Well-Being of U.S. Households, the Federal Reserve surveyed more than 4,000 Americans in 2013. They were asked questions about their overall financial situation, as well as housing.In the report, 26 percent of home owners said they expect a 5 percent or less increase in their home value. Fourteen percent expected an increase of more than 5 percent, and less than 10 percent expected home prices to fall over the next year.The report also found that many renters are looking to purchase homes. About 10 percent of renters said they were currently looking to buy a home. The report found that the main reasons many renters were currently still renting instead of owning was lack of money for a down payment and being unable to qualify for a mortgage.

Read more: http://www.wptz.com/homeowners-becoming-more-optimistic-about-home-prices/27789820#ixzz3Csk7hTBy
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Jeri Patrick

In today’s complex and difficult real estate market you need a professionals who will do whatever it takes to market and sell your home. Jeri Patrick has a team with an established history of succes....

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