Wednesday, August 8, 2012

Prudential Survey: Americans Increasingly Confident About Market Recovery



           Prudential California Realty's parent company, Brookfield Real Estate & Relocation Affiliates recently announced the results of their second quarter Consumer Outlook Survey.  The national survey results indicated that Americans are increasingly optimistic about homeownership and their confidence levels are rising from both the first quarter and the previous year.

·               Nearly two-thirds (64%) of respondents have a favorable perception of the U.S. housing market, up from 60% in the first-quarter survey and 52% in first-quarter 2011.

·               69% believe that real estate is a good investment despite the market volatility of the past few years, up 6% from the first-quarter 2012 survey and 17 percentage points from first quarter 2011.

·               72% expressed confidence that the real estate market and property values will improve during the next two years

       Similar to the national sentiment, signs of growing confidence are apparent among local residents as home prices in Ventura County continue to rise.  According to DataQuick, the median home price was $365,000 last month in Ventura County, up more than 3% compared to the same time last year. 

       “The American Dream is clearly on the mend,” said Bob Majorino, Broker/Owner of Prudential California Realty. “Americans are feeling better about homeownership 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 here in Ventura County, they want to act on the opportunity.”

       With five offices throughout Ventura County, Prudential California Realty is an independently owned and operated member of BRER Affiliates, Inc.  For additional information about Prudential's outlook survey, please call (805) 496-0555 or visit www.prucalhomes.com.

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