FOR IMMEDIATE RELEASE:
Consumer Sentiment on the Rise as Indianapolis Real Estate Heads into
Fall & Winter Home-Buying Season
Indy Real Estate Experts watch current and prospective homeowners show a favorable view of the real estate market
Indianapolis, IN (September 8, 2016)-- Berkshire Hathaway HomeServices' latest Homeowner Sentiment Survey indicates that current and prospective homeowners are increasingly optimistic about U.S. real estate. Respondents cited low interest rates as a key reason for their growing optimism.
Reversing downward trends for the past two surveys, 61% of current homeowners and 65% of prospective homeowners now see the real estate market as more favorable for sellers and buyers. In fact, 76% of prospective homeowners – a survey group composed mainly of millennials and Gen-Xers – said this year is a more ideal time to buy a home.
The national optimism holds true in metro Indy, where Indianapolis realtor Lisa Treadwell, owner and Associate Broker of the Indy Real Estate Experts at Berkshire Home Services, Indiana Realty, says home buyers and sellers express confidence in the market to her on a regular basis.
“The quote I hear most often from home buyers and sellers is that they 'feel the real estate market is heading in the right direction,'” notes Treadwell. “There is also a significant understanding that appreciation of homes and the quick increase in value of residential real estate provides a great opportunity for both buyers and sellers around Indianapolis neighborhoods.”
Respondents seem to have shaken off the effects of last year's (2015) rate hike. Active homeowners are significantly less concerned that low housing inventory, which has hampered real estate’s recovery in many markets, will hurt their chances to find the right home.
However, 72% of prospects showed increasing concern that rising home prices will make it more difficult to buy a home. To purchase their ideal home, current homeowners and prospects said they are more willing to forego swimming pools, accessibility to public transportation, basements and proximity to their workplace. They are less likely to compromise on location within a good community, a good floor plan, proximity to solid schools and the outward appearance of a home.
Berkshire Hathaway HomeServices Consumer Sentiment Survey Methodology
Interviews with 2,506 respondents were conducted online by Edelman Intelligence in February 2016. The respondents captured were either current homeowners (individuals who currently own a home as a primary residence) or prospective homeowners (individuals who do not currently own a home and are likely to buy a home as their primary residence in the next six months). The margin of error is +/-2.2% for current homeowners and +/- 4.4% for prospective homeowners.
The Indy Real Estate Experts: