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Prudential Real Estate Outlook Survey: Home Ownership Is Increasingly Important to Younger Americans
Virginia Beach, VA – Prudential Real Estate, an HSF Affiliates LLC company, today released its end-of-year Outlook Survey, which shows that Millennials and Generation X place a higher importance on and hold more favorable views toward home ownership than older generations. According to the national survey, confidence increased marginally among respondents with 73% at least somewhat confident in the recovering real estate market and property values as opposed to 72% in Q2.
Additionally, “Contemplators”, survey participants who considered but did not buy/sell a property during the past year, displayed a 10% increase in confidence over Q2 figures for both the U.S. real estate market and home prices indicating they will likely keep their eye on the market.
“It’s no surprise that home ownership is still a very important part of the American Dream for many people,” said Barbara Wolcott, Prudential Towne Realty. “On both a national and local level, consumer confidence is returning to the real estate market and there is an immense opportunity at hand for real estate agents to develop new relations with a younger generation ready to invest in a home.”