Cape Gazette
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Nationwide survey indicates ongoing rebound of housing market

Aug 05, 2013

Following on the heels of a positive quarterly sales report, the Sussex County Association of Realtors announces the latest piece of upbeat economic news for the local and national housing markets.

In late July, the Chicago-based National Association of Realtors, of which SCAOR is a longtime member, released the results of its annual Housing Pulse Survey. The report again shows a stronger environment for home sales and home ownership throughout the United States.

The survey mirrors positive data released in the last several quarters by SCAOR, southern Delaware’s only trade association for individuals involved in the real estate industry.

“After suffering through the recession a few years ago, we definitely needed some good news, and it seems we have had nothing but positive reports to talk about over the course of the last two years or so,” says Bob McVey, 2013 president of SCAOR. “This latest data from NAR is just more of the same, which we are all, understandably, very excited about.”

NAR’s 10th annual survey measures consumers’ attitudes and concerns about affordable housing issues. The principal takeaway - the majority of respondents continue to feel that buying a home is a good financial decision. The survey also found that home ownership remains one of life’s top priorities for people who currently rent their places of residence.

“Owning your own home is the very cornerstone of the American dream and something that people have worked toward for generations,” says McVey. “There are millions of people around the world who would love the opportunity to own a piece of property, but are denied that right. We are very fortunate that we live in a country where home ownership is encouraged and supported, and it’s nice to see that Americans still believe in that dream.”

Some key findings from the 2013 survey include:

• Eight in 10 Americans believe that buying a home is a good financial decision, up 8 percentage points since 2011.

• Half of renters now say that owning a home is one of their highest personal priorities, up 9 percentage points since 2011.

• Respondents expect to see continued improvement, as 37 percent feel real estate sales will increase in the year ahead.

The Housing Pulse Survey was compiled as a result of 2,000 phone interviews conducted with American residents from coast to coast. The survey has been completed by an independent research organization every year since 2003 for the National Association of Realtors.

SCAOR is a resource for the public, as well as a recognized advocate for property rights and property owners in Sussex County. The association also monitors legislative issues on the local, state and national levels that may impact home ownership in the area.

To read more about issues related to Sussex County’s real estate industry, go to www.scaor.com.

 

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