Optimism is growing in real estate as evidenced by the growing trend in consumer’s views in Fannie Mae’s recent survey that showed that 7 in 10 people think now is a great time to buy a home . This is up 5% from earlier this year which is certainly a good sign.
However this is countered by a slight increase in respondents saying that they will be renting in the near future.
This is seems to be a sign of people recognizing a time of opportunity, but not having the capability to take advantage of it due most likely in part to the weakness in the employment sector of the economy. As this improves, I think we’ll see more and more buyers get back into the market to snap up the opportunities.