a new Gallup poll showing 72% of Americans think now is the time to buy a house, many expect house prices to begin to rise. This consumer confidence in home value was up from 53% two years ago.
People could be reading news reports, or hearing stories from people they know but their optimism could lead to an increase in home sales, which could help to bolster the weak economy.
Around the country real estate statistics in many important markets have indicated that the number of people buying real estate has been on the rise. Some seasoned professionals immediately attribute the increase to spring and more favorable weather but a new report out Thursday by MDA DataQuick indicates spring is not the only factor, with year-over-year home sale gains in much of our region.
Recent DataQuick analysis in other parts of the country showed glimmers of hope in home buying, although some of that can be attributed to people scooping up deals. One professional said, "There are more sellers who have just given up on waiting for prices to come back...Prices are soft and enticing some buyers."
The Gallup poll found American's exuding some confidence that home prices may be stabilizing, with 77% predicting they will stay the same or rise. Santa Cruz properties were hit less hard than some other areas in California and Santa Cruz real estate is looking stronger than it has in years.
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