The Utah Association of Realtors conducted a poll among people who have either recently purchased a home, or were considering purchasing a home. I don’t want to share the entire article with you, just some of the the numbers.
69% of people in this survey said that they were looking to buy a home in the $100K to $300K range. That would suggest that homes that are priced higher than $300K are only going to be looked at by 31% of the people in the market at this time.
90% of the people surveyed still looked at a home as a decent to good investment.
81% of the people surveyed believe that home prices will rise over the next 5 years.
These numbers are obviously just a survey, and there was much more to the article, but these particular numbers caught my eye. Price is obviously still a major factor in home buying but 50% said that they would like to change neighborhoods, so people are still looking to stay here, but would like to move. I know that with any survey or poll there are always factors that can affect the actual numbers.
I found overall, that the survey to be good news. People still want to move, still find a home to be at least a decent investment, and believe that the market will begin to appreciate. All of these factors, to me are good. This poll was taken from the Third Quarter edition of the Utah Realtors Magazine. Maybe we have turned the corner, at least in perception!
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