Survey says Homeowners’ Outlook Accentuate the Positive
Most homeowners are still optimistic about their home’s value, according to a recent survey by Boston Consulting Group. In fact, 55 percent of Americans believe they could sell their house for more money now than a year ago, down slightly from the 59 percent who felt that way in 2006.
Nearly three-quarters think they could sell their home within the next six months at a price they set, and 63 percent feel that real estate is a good or excellent investment.
“Americans believe their homes are still their best investment. They’re positive about their homes’ value and believe in a bounce-back in residential real estate overall,” says Boston Consulting’s Senior Partner Michael J. Silverstein. “Talk of declining average values of homes is not forcing a cutback in spending. It’s just not translated into the American psyche.”
Instead, the survey showed that 69 percent of homeowners say they’re likely to make renovations or imp-rovements to their homes in the next year, and more than two-thirds say the current housing market has no effect on their spending. Boston Consulting polled 1,007 adult Americans in a telephone survey from May 31 to June 3, 2007.