Prudential Real Estate Reports Greater Confidence Among Buyers, Sellers

""Prudential Real Estate"":http://www.prudentialrealestate.com/ released Tuesday the results of its first-quarter Consumer Outlook Survey, revealing Americans' sentiment toward real estate is growing more and more favorable.

[IMAGE]

According to the results of the survey, homeownership remains important to 96 percent of Americans, especially among women and those in Generations X and Y.

In addition, 77 percent of consumers feel the real estate market and property values will continue to recover, representing an improvement of four percentage points from Q4 2012 and a seven-point jump over Q1 2012.

In terms of motivation, buyers said they are mostly spurred by historically low interest rates and attractive home prices in many markets, with 87 percent of respondent saying this kind of environment is the best time to buy.

""Anticipation seems to be building for both buyers and sellers this spring buying season,"" said Earl Lee, CEO of HSF Affiliates LLC and president of Prudential Real Estate. ""Consumers are aware that the market is moving and, with growing optimism, more are weighing their homeownership options.""

Furthermore, responses show that Americans' renewed optimism in the housing market has expanded participation from both buyers and sellers. Confidence among ""contemplators""--those who have considered buying or selling a home within the past year but haven't committed--increased to 69 percent in Q1, its highest level in the last year. Primary reasons why that group hasn't yet made a move include ""waiting for the opportunity"" (44 percent) and ""haven't yet found the right home"" (32 percent).

""Our survey data shows that people are feeling better about their personal situations and the U.S. economy,"" said Stephen Phillips, COO for HSF Affiliates. ""At the same time, respondents' views of residential real estate have grown increasingly favorable. We believe more consumers will enter the market this year to capitalize on mortgage and pricing opportunities and to secure their part of the American dream.""