Almost half of all homebuyers are optimistic about the real estate market. According to a new survey recently released, and conducted by Harris Interactive®, 44% of homebuyers surveyed believe that the real estate market will improve when a new President of the United States is elected.
The survey further indicates a healthy underlying demand for homeownership. 41% of current homeowners surveyed said that they plan to purchase a home once again, and 47% of renters said that they plan to purchase a home within the next 5 years.
The survey was not without negatives. Approximately 4 out of 5 homebuyers consider high home prices to be the number 1 barrier to purchasing a home. The second greatest barrier to buying a home for a prospective buyer is coming up with the down payment, and the third greatest barrier is a lack of confidence in the present economy.
Crime rates, proximity to conveniences, and property taxes were found to be the 3 predominant factors in choosing a neighborhood.