Wednesday, November 15, 2006

Homeowners Remain Optimistic

Americans remain highly confident about the nation’s housing prospects – more than four out of five homeowners expect the value of their home to appreciate over the next five years and nearly seven out of 10 consider it their most valuable investment, according to results from a new nationwide survey.

“The poll clearly debunks the more sensational media reports speculating on the demise of the housing market,” says David Pressly, president of the National Association of Home Builders (NAHB). “It is interesting to note that other polls conducted by major news organizations have come up with similar results, indicating that despite the current housing market downturn, Americans resoundingly believe that buying a home is the best investment they can ever make.”

RT Strategies conducted the survey of 2,000 households Oct. 26-29.

The poll found that 81 percent of homeowners believe that the value of their homes will rise over the next five years. Only 13 percent felt their home would fall in value, while 4 percent expected no change and 3 percent were unsure.

In addition, 69 percent of respondents listed their home as their most valuable investment. By contrast, this was followed by 401(k) and other retirement accounts, with just 11 percent of those polled citing this as their top investment.

Looking ahead, NAHB said the housing market is poised for solid and sustained growth in the future. Courtesy of Planet Realtor.