Real Estate survey shows climbing confidence

The quarterly Prudential Real Estate Outlook Survey shows that Americans’ confidence in the real estate market continues climbing, company officials said on July 11.

“The American Dream is clearly on the mend,” said Earl Lee, president, Prudential Real Estate. “Americans are feeling better about home-ownership and the ongoing recovery taking place in residential real estate. Many are increasingly optimistic about their personal circumstances and, with housing affordability near all-time highs, they want to act on the opportunity.”

About two-thirds of the respondents in the Prudential survey had a favorable perception of the U. S. housing market. Additionally, 96 percent of the respondents at least “somewhat agree” that it is an ideal time to buy property.

A solid 30 percent of respondents expressed that the housing crisis is a reminder to be wiser when buying or selling a home and 74 percent of respondents indicated that it is more important than ever to work with a good real estate agent for the best success in buying or selling a home.

“Normalcy is returning to the U.S. real estate market and more people are buying homes for traditional reasons – to raise a family, feel secure and build a future,” said Lee. “Every last emotion is rolled up into owning a home – it’s where life happens – so it’s no surprise that the emotional side outweighs financial reasons for owning a home among respondents.”

The Prudential Real Estate franchise network is owned by Brookfield Real Estate and Relocation Affiliates Inc. The survey was conducted online by Palisades Media Ventures and Penn Schoen Berland, between May 22 and June 1, 2012.