However, the survey also shows consumers remain cautious about real estate process, with 62% of respondents stating that obtaining financing is more challenging than it was pre-financial crisis. Given the dynamics and challenges of the market, 72% feel that having a trusted partner for the process is important, with younger generations being most concerned about finding reliable sources of information.
"The housing market has finally turned the corner," said Stephen Phillips, chief operating officer for HSF Affiliates LLC. "It's been a tough road but the momentum we are seeing across the economy and real estate market appears sustainable. Real estate agents have a real opportunity to develop new relations with a younger generation ready to invest in a home, and with others who are returning to the market thanks to improving conditions."
The full survey details are available upon request and infographic illustrating those points is available here.
Prudential Real Estate Outlook Survey MethodologyInterviews with 5,000 Americans who are "in the market" to buy or sell a home were conducted online by EdelmanBerland, between December 5-14, 2012. Respondents are aged 25-64 with a household income of at least $50,000, and either recently bought/sold a home or are considering buying/selling a home. The margin of error is +/- 1.4% for all respondents. About Prudential Real Estate and HSF Affiliates LLC Prudential Real Estate is a part of the HSF Affiliates LLC real estate brokerage family, which includes Real Living Real Estate and the new Berkshire Hathaway HomeServices(SM) brand available later in 2013. Prudential Real Estate franchisees are independently owned and operated. Companies are selected based upon outstanding performance records and high levels of customer service. HSF Affiliates LLC, based in Irvine, Calif., is a joint venture of HomeServices of America and Brookfield Residential Property Services. Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities and are used under license, with no other affiliation with Prudential.