Consumers Squeamish Over Housing Market
From Homescape
written by Amy Le on Tuesday, April 15, 9:16AM
According to the poll, more than a quarter of homeowners worry their home will lose value over the next two years, and one in seven mortgage holders fear they won’t be able to make their monthly payments on time over the next six months.
The AP-AOL Money & Finance poll was conducted from March 24 to April 3 by Abt SRBI Inc. It involved telephone interviews with 1,002 adults nationwide. Those surveyed included interviews with 769 homeowners. Below are some stats from the poll that I found interesting:
• Sixty percent of those surveyed said they definitely won’t buy a home in the next two years.
• One in four respondents believe home prices in their area will continue to fall.
• Half of those surveyed say that homes are overpriced in their area — mainly those in the Northeast region. About one and 10 people, particularly Midwesterners, believe housing in their markets are underpriced.
• Despite the negative outlook on the housing market, the silver lining in the clouds is that 59 percent of respondents think now is a good time to buy, thanks to lower home values.
Got hot local housing tips or a story you want to share? Contact Amy Le at openingdoorsblog@homescape.com.
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