"Keeping You in the Know"

Daily Real Estate News  |  July 16, 2008

Home Buyers Hopeful About Market

An online survey of potential home buyers found that 44 percent believe the real estate market will improve once the new president takes office.

In the meantime, 81 percent say they remain nervous about the current market.

Respondents cite a variety of barriers to buying a home: 28 percent say they are stymied by the cost of a down payment; 20 percent are concerned about their income level, and 31 percent (39 percent in the West) say home prices are still too high.

Practical reasons motivate these potential buyers. A quarter say they need more space; 17 percent have gotten married, had a baby or experienced some other life-stage change, while 9 percent want to downsize.

Seventy-eight percent say they are willing to save or earn extra money for the down payment and are willing to compromise on amenities in their new home to make it more affordable.

Harris Interactive conducted the survey for Move Inc., which operates Move.com and REALTOR.com.

Source: Move Inc.