Wednesday, October 13, 2010

New York’s consumers see a bright future for the real estate market

The New York Homeownership Survey was published by The New York State Association of Realtors, in partnership with the Siena Research Institute (SRI). The survey found some very interesting statistics, including that almost all respondents are satisfied with owning their home, and that 81% of homeowners considered their home to be a comfort rather than a burden. 81% of New Yorkers believe that homeownership is a better investment that the stock market.

The study also investigated consumer sentiment about the market. The study revealed that New Yorkers expect that the overall real estate market and the value of property to increase over the next year. Consumers see this as a very good time to buy a home.

According to SRI Director Dr. Don Levy, "New Yorkers see value today and recognize that this may be one of the best times in a while to buy. And it is heartening to see that the housing market bedrock remains strong with future sentiment overall, and attitudes toward both buying and selling are positive looking forward."

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Yarrawonga real estate October 30, 2010 at 8:50 PM  

It's good to hear of the change in attitude toward the real estate market. For a while there things were looking pretty dismal for most parts, we all new it would bounce back again though it always does even in other parts of the world.