According to a survey released by Prudential Real Estate and Relocation Services, 68 percent now feel home and property values will recover in the next year or two. That's up from the 47 percent who felt confident about the real estate market last year at this time.
But confidence wasn't universal. For instance, among people unsure about buying a home, 77 percent said concern about whether their home would sell was holding them back.
"This survey clearly demonstrates that Americans continue to be optimistic about the real estate market and believe that home prices will rise," said James Mallozzi, chief executive officer of Prudential Real Estate and Relocation Services. "Although consumers recognize that it is a good time to buy, they are concerned about their ability to sell their homes. This is one of the reasons the market is still struggling to recover."
The survey respondents feeling this way likely aren't living in the Washington, D.C. area, as the Washington Post reported last week that the housing hunting market is saturated in the spring.
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