CHARLOTTE, N.C. – Feb. 20, 2013 – In a recent LendingTree survey of 1,060 homeowners, 79 percent believe homeownership remains an essential part of the American dream. Additionally, 76 percent are confident they could sell their current home that if they wished to purchase a new home in the future, and that they could get a mortgage and afford a downpayment despite the recent recession.
Of those surveyed, slightly more than half believe the housing market will take 12 months or less to recover, and only 19 percent are postponing a home purchase or sale because of a weak housing market.
“Low rates, affordable home prices and a recovering housing market have created a unique window of opportunity for potential homebuyers,” says Doug Lebda, chairman and CEO of LendingTree. “The good news is that the housing market is steadily improving and upcoming lending regulations will hopefully provide the clarity needed for lenders to have renewed confidences.”
Consumer confidence is stronger when it comes to home loan refinancing: 89 percent of those surveyed are confident they’ll be able to refinance their mortgage, with only 11 percent uncertain. One in three had already refinanced a current mortgage, 28 percent plan to do so and a remaining third are unsure of their plans.
Research Data Technology Inc. conducted the survey from Nov. 16 to Nov. 27, 2012 online. The margin of error is +/- 3.0 percent.
© 2013 Florida Realtors®