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Wednesday, May 5, 2010

New Survey Provides Insight into First-Time Home Buyers

According to a survey of first-time home buyers and sellers released by Century 21 Real Estate LLC last month, over 80% of those polled feel the current housing market is more affordable today than this time last year, despite the fact that 40% are more worried about the economy.

While market conditions are currently attractive and favor buyers, first-time buyers anticipate that housing prices will soon begin to rise and in fact, expect an increase by this time next year, re-establishing the balance between buyers and sellers in the market.

That’s one more reason this is a great time to purchase a home.

“This is a generational opportunity for a first-time home buyer looking to take advantage of this market,” said Rick Davidson, president and CEO, Century 21 Real Estate LLC. “If you are considering buying real estate, now is the time to consult with a real estate professional.”

The results of the CENTURY 21 survey are in line with a survey released April 6 by Fannie Mae, finding that two-thirds of Americans (65%) are still bullish on homeownership, preferring to own a home despite the challenging economy.

Due to the complexity of today’s real estate market, 85% of those polled in the CENTURY 21 survey said real estate professionals serve an important role in the home buying and selling process, and about 70% either used or expect to use one.

“Buying a home is the largest, single financial decision most people will make in their lifetime,” said Davidson. “This is where a real estate professional can help.”

If you’re interested in buying a home, give our CENTURY 21 office a call today, and we’ll put you in touch with an agent who will help you locate and purchase the home of your dreams.

To learn more about the CENTURY 21® First-Time Home Buyer and Seller Survey, Click Here

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Monrovia, California, United States