Impending Real Estate Doom? Not if most AMericans can have their way. Hopefully perception is reality as Americans are confident their homes are retaining, even gaining, value, according to a nationwide telephone survey conducted this month by The Boston Consulting Group (BCG). In fact, Americans are nearly as optimistic now about the rising value of their homes as they were a year ago, according to the research.
According to the survey:
- 55% of Americans say their home would sell for more money now than it would have a year ago. (Last summer, 59% of American homeowners felt that way.)
- 85% of Americans believe their house will be worth more five years from now than it is today.
- Nearly three-quarters (74%) of homeowners say they're confident they could sell their home within the next six months at a price they think it's worth.
- The majority - 63% - of Americans think real estate is a good or excellent investment.
- 76% of Americans say the current real estate market has no impact on how they're spending now. (However, 16% say they're cutting back because of a perception of lower residential real estate values.)
- Most home owners - 69% - say they're likely to make renovations or improvements to their home over the next 12 months.
- 27% of Americans say they're likely to purchase a better home over the next five years.