NAR: Owners still see value in real estate
NEW ORLEANS – Nov. 8, 2010 – Homebuyers today have affirmed a long-term view of homeownership, the typical seller is experiencing positive returns and the vast majority of homeowners see their property as a good investment, according to the latest consumer survey of homebuyers and sellers. The study was released during the 2010 Realtors® Conference & Expo.
The 2010 National Association of Realtors Profile of Home Buyers and Sellers is the latest in a series of large national NAR surveys evaluating demographics, preferences, marketing and experiences of recent homebuyers and sellers.
Although typical sellers had been in their previous home for eight years, up from seven years in the 2009 study, first-time buyers plan to stay for 10 years and repeat buyers plan to hold their property for 15 years.
NAR 2010 President Vicki Cox Golder says the pattern of buyers taking a long-term view has solidified over the past few years. “This underscores two simple facts – homeownership encourages stability; and the longer you own, the better your investment.”
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