65% of home buyers still want to buy a house

According to a study released today by Prudential, 65% of home buyers surveyed claim that the expiration of the home buying tax credits will not have an effect on their decision to purchase a home.

A little less than half of home owners expect prices to increase in their area over the next year and 20% expect prices to increase substantially over the next 5 years.

What I find far more interesting is a break down of the entire survey here.

Roughly a third of “consumers” believe it’s a great time to buy a home and roughly a third think it’s a good time to buy a home. For as much griping as I hear on an anecdotal basis, I think it’s fascinating that 70% of those surveyed claim it’s either a great or good time to buy a home. And while nearly 70% also think that housing in their area is either somewhat stable, or teetering between stable and unstable; about half think a year from now the market in their area will be stronger.

A whopping 92% of the respondents felt that owning a home was better than renting for a long term investment. Most respondents felt that lower housing prices and interest rates are what was more important in terms of the recent increase in home sales. Almost 2/3 said that the current low interest rates have a strong to moderate impact on their decision to buy a home. Given that housing is now more affordable than it has been in almost, well, ever, given the lower prices and low interest rates this response makes sense.

While you need to be under contract on a home tomorrow (April 30) in order to take advantage of the current tax credits housing prices are still low as are interest rates. If you would like to buy a home in the north-metro Denver area call me at 303.887.1883 or email me at beth@bethskinner.com. You can start your new home search on the MLS IDX right here, in the privacy of your own home, and if you’d like, you can sign up for my email notification service that will alert you when new homes come on the market. If you want to know more about what I do for my valued clients click here.

photo credit: borderfilms (Doug)

Beth I. Skinner

As a Denver area real estate agent I'm intensely devoted to my home buyers and sellers; fighting for you every step of the way for the VERY best results. I'm definitely not your "typical" salesperson. I probably won't remember to ask about your kids' ages or how long you've lived in Colorado. I don't engage in small talk just so you'll think I'm nifty and hire me. What I ALWAYS remember however, is who I am working for - and that's YOU. I'm on YOUR side; I take my responsibilities as your agent very seriously and will work my brains out for you. So if you're looking for the kind of real estate agent who always remembers to say "good morning" or asks about the little ones soccer game then you should move along - I'm too cranky for you. But if you're looking for the kind of real estate agent who will fight like crazy to help you, then you've come to the right place. And when I'm not helping clients I'm usually walking dogs at the shelter, training at the gym, or watching Star Trek re-runs on Netflix.