Wednesday, November 14, 2012

FindLaw Survey – Americans Encouraged by Housing Market

A new FindLaw survey found that American homebuyers are much more encouraged by the housing market in 2012 than in 2010.
By Peter Ricci
Consumer sentiment towards the housing market has been gradually improving in Fannie Mae’s National Housing Surveys, and a new FindLaw survey has found that the situation is improving other notable ways.
According to the FindLaw survey, which sampled 1,000 American adults, the percentage of Americans who reported sitting on the sidelines and avoiding the homebuying process has dropped by more than half from 2010 to 2012, falling from 63 percent to 30 percent.

FindLaw Survey – Americans Encouraged by Housing Market

In addition, the FindLaw survey also found:
  • With housing prices at affordable levels and mortgage rates at record lows, the number of respondents who said that economic conditions motivated them to buy a house increased by 38 percent.
  • Also, less respondents said that the economy was playing a negative factor in their homebuying decisions, with 49 percent reporting that the economy had no impact on their decision.
Stephanie Rahlfs, an attorney and editor with FindLaw (which is a Thomson Reuters company), said the FindLaw survey results were especially encouraging among higher-earning individuals. 

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