April 8th, 2013
Many potential buyers are watching the housing market closely for signs that recent recovery may be just a temporary streak. However, the number of people who think the market may revert back to instability is declining, and more are expressing renewed confidence that housing market gains will remain steady and consistent.
A new study from moving company Mayflower reveals that 47 percent of Americans report feeling more comfortable purchasing a home today than at any other time in the past five years. Roughly one-third of respondents also said they are currently ready to make a move to a new home. The study found the the number of people that moved during the historically slow moving period of January to March was up 16 percent in 2013, compared to statistics from 2012.
The majority of respondents cited the desire for a new or updated house as their primary motivator for entering the housing market. However, others said they wished to live in a more attractive neighborhood and some also named their wish to become a homeowner as their top interest.
The 2013 spring home buying season has already surpassed most analysts’ expectations, and the housing market is projected to continue gaining steam during the summer months. Favorable rates and strengthening home prices are reported to be fueling the shift toward homeownership, and many buyers are attempting to make their purchases before prices become even more elevated.