Posted on Monday, July 13, 2009
The Housing Pulse Survey is an annual telephone survey of 1000 urban and suburban adults in the top 25 media markets, designed to assist NAR in gaining information on consumers' attitudes and concerns about housing opportunities. Some recent results are interesting:
Two-thirds of Americans think job layoffs and unemployment are a big problem, so much so that eight in ten cite these issues as a barrier to homeownership. Saving for a down payment and closing costs is still the primary obstacle for 82 percent of house hunters looking to take advantage of the current market. 83 percent of Americans still believe buying a home is a good financial decision. Three-fourths of those surveyed also believe now is a good time to buy a home. About the same number also say that banks are making it too hard to qualify for a loan (71 percent) and that fewer mortgage options offered by banks have made it harder for them to buy a home (also 71 percent).