Americans Optimistic About Housing in 2015

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Americans are more optimistic about the housing market than they have been at any time since the real-estate recovery began, according to a recent survey from Trulia. In fact, 74 percent of respondents agreed that buying a home was part of their personal American Dream, with an even larger percentage of potential first-time buyers expressing the same. Among 18-to-34 year olds, 78 percent said they count homeownership as part of their dream, up from 65 percent in 2011. Young Americans who are currently renting were even more enthusiastic about buying a home, with 93 percent saying they hope to buy someday. In addition, participants expressed increased optimism that 2015 would be a better year than 2014 for selling a house. The improved sentiment is good news for residential real estate, especially entering a year that many analysts expect will see gains in home sales due, in large part, to more first-time buyers entering the market. Improved employment conditions, expected wage growth, and the release of pent-up demand to buy homes is forecast to drive the housing market in 2015. However, despite forecasts of continued improvement, 2015′s gains aren’t expected to be as sharp or dramatic as those of the past few years. Instead, there should be a less volatile and more gradual climb upward as the market becomes more stable. More here.

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