DAILY REAL ESTATE NEWS | WEDNESDAY, JULY 27, 2016
It might not be all low inventory and high prices. It seems Americans have a confidence problem when it comes to the housing market. They’re increasingly apprehensive to move forward, citing concerns over the economy and job security, according to the latest ValueInsured Modern Homebuyer Survey, a measure of confidence in the health of the housing market among more than 1,000 home owners and buyers.
Amid uncertainties around the global economy, national security and the national presidential campaign, Americans’ confidence in the housing market remains sturdy and, in fact, is on the rise, according to the latest ValueInsured Modern Homebuyer Survey.
The ValueInsured Housing Confidence Index was 68.7 points in June, up slightly from 67 points in March. This 1.7-point rise in confidence is consistent with improvements in the government’s June jobs report
See the results from Redfin’s and ValueInsured’s surveys
BY MICHELLE GOLDCHAIN
According to ValueInsured’s newly released survey, confidence in the housing market is rising. ValueInsured reported that the ValueInsured Housing Confidence Index was 68.7 points last month, up from March's 67 points.
What is still causing homebuyers to feel anxious about purchasing their first home is the housing crisis of 2008. Of those surveyed, 63 percent of Americans and 72 percent of American Millennials said that the 2008 crisis impacted their decision in home buying. If both parties had more confidence in the housing market, more than half of those surveyed would buy or upgrade sooner, according to ValueInsured.
CONFIDENCE IN HOUSING MARKET 'STURDY'
New index shows lingering post-crash anxiety but also growing confidence.
Amid uncertainties around the global economy, national security and the national presidential campaign, Americans' confidence in the housing market remains sturdy and, in fact, is on the rise, according to the latest ValueInsured Modern Home Buyer Survey.
The ValueInsured Housing Confidence Index was 68.7 points in June, up slightly from 67 points in March. This 1.7-point rise in confidence is consistent with improvements in the government's June jobs report.
Survey: housing market still suffers from 2008 hangover
Economic worries now 'the new normal'
The housing market appears healthy. Despite tight inventories, sales keep rising and so do prices. The market appears to have come a long way since the depths of the 2008 financial crisis, when homes prices imploded.
But a new survey suggests the market is still suffering a hangover. The ValueInsured Modern Homebuyer Survey found there is still some nervousness influencing home buying decisions today, a condition it declares as “the new normal.” In particular, it affects Millennials.
Housing a Safe Bet – But Could be Safer – in Uncertain World, Suggests ValueInsured Modern Homebuyer Survey
DALLAS, July 26, 2016 – Amid uncertainties around the global economy, national security and the national presidential campaign, Americans’ confidence in the housing market remains sturdy and, in fact, is on the rise, according to the latest ValueInsured Modern Homebuyer Survey.
The ValueInsured Housing Confidence Index was 68.7 points in June, up slightly from 67 points in March. This 1.7-point rise in confidence is consistent with improvements in the government’s June jobs report.
It has been well reported that Millennials are commitment phobic – to jobs, to relationships, and to homeownership. Conventional thinking says even financially viable Millennials are often renters by choice because they share a different American Dream than the previous generations and they don’t want the hassle and responsibility of owning a home. But ValueInsured believes their attitudes deserve a second look.
Uncertainty always exist. It just takes events like Brexit to see them.
Unfortunately, big events, in an age of social media and a larger shared community, are happening more often. And they each have the potential to impact what is one of the US’ biggest economic drivers - housing. It underscores the old adage that the only person you can control is yourself. Never has that been more true than today.
