Americans More Bullish on Housing Market; 31% of Renters Plan Purchase

Optimism is rising along with home prices as 31 percent of renters plan to buy a home in the next two years, according to Trulia’s new American Dream survey.
That a nine-point increase from 22 percent in January 2011.
More than 1 in 4 consumers (27 percent) feel more positive about homeownership than they did six months ago, compared with 19 percent who report feeling more negative.
Factors that are contributing to the more positive outlook include rising home prices, increasing home sales, and falling delinquencies and foreclosures.
Despite maturing through the years of a housing boom followed by the market collapse, “Millennials” (18-34 year olds) haven’t completely written off homeownership.
Seventy-two percent of these young adults say homeownership is part of their personal American Dream, which is the same as the adult population overall.
Among renters in this age group, 93 percent plan to purchase a home some day, while 43 percent of young adults are homeowners already.
However, some Americans remain skeptical about owning a home.
Only 72 percent of consumers said homeownership is part of their “American Dream,” which remains below February 2009 and January 2010, when 76 percent and 77 percent, respectively, agreed with this sentiment.
Trulia‘s survey was conducted online within the United States by Harris Interactive Nov 15-19, 2012. Those surveyed included 2,083 U.S. adults – 1,271 homeowners and 741 renters.

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