2 million home buyers sitting on the fence?

Up to two million potential home buyers are planning to get off fence and into the housing market, according to a report released this week. 

Nineteen percent of homeowners and 29% of renters are considering the purchase of a home within the next two years, according to the Hanley Wood "Housing 360 Survey," which polled more than 3,000 people. Hanley Wood is a business-to-business media company focused on construction and design.

You can download the report here  Download Housing 360 Study Report October 2011_tcm10-900494

"We thought people would be soured after watching home values fall but instead we found the typical American still places high value on homeownership," said Frank Anton, chief executive of Hanley Wood, in a news release. "We found this holds across all demographic groups and across the country, even in hard-hit places like Nevada and Arizona where there have been 50% or more declines in value. The increase in the rise of rental rates in many markets is one factor driving people to consider buying." 

But homeowners feel no urgency to buy a new home, especially given the turmoil in the markets, and are staying put for the time being, according to the report. Meanwhile, renters aren't in a hurry because they face the hurdles of qualifying for a mortgage and worry about the economy and their jobs. 

So is now the time to get ready for the potential increase is business? I say yes. Now is the time to be prepared, get your systems in place, get your marketing ready and out there. 

Comments

[Tim Hargis]

I suppose I'm not in agreeance with most of the homeowners polled then because I really don't feel like it's the best time to buy a home. Sure homeownership has always been the ideal instilled in me since I was little, but after watching the housing market collaspe everything seems to require more caution. If you're starting a business, looking to purchase a franchise, a home or whatever it may be you really have to do your research and be patient.