Most Americans still believe that owning a home is a solid financial decision, and a majority of
renters aspire to home ownership as a long-term goal. According to the 2011 National Housing Pulse Survey released today by the National Association of Realtors, 72 percent of renters surveyed said owning a home is a top priority for their future, up from 63 percent in 2010.
Seven in 10 Americans also agreed that
buying a home is a good financial decision while almost two-thirds said now is a good time to purchase a home. The annual survey, which measures how affordable housing issues affect consumers, also found that more than three quarters of renters (77 percent) said they would be less likely to buy a home if they were required to put down a 20 percent down payment on the home, and a strong majority (71 percent) believe a 20 percent down payment requirement could have a negative impact on the housing market.
Some key findings from this year's survey include:
- Seven-in-ten Americans (71 percent) say requiring a down payment of twenty percent on the cost of a home would have a negative impact on the overall American housing market.
- More than three quarters of renters (77 percent) say they would be less likely to buy a new home if they were required to make a 20 percent down payment. Among current homeowners, four-in-ten (39 percent) say they would not have been able to buy their current home if they been required to make a 20 percent down payment.
- Having enough money for a down payment and closing costs is the largest obstacle that makes housing too expensive and unaffordable (82 percent say it is a "huge" or "medium-size" obstacle).
- Two in every three Americans (67 percent) oppose eliminating the home mortgage interest deduction as one part of a plan to reduce the federal deficit. Underscoring the intensity of this opinion, a majority of Americans (51 percent) strongly oppose eliminating it.
- Even more Americans (73 percent) believe that eliminating the home mortgage deduction would have a negative impact on the American housing market, while 65 percent say it would have a negative impact on the overall economy.
- While fewer Americans than in the past agree, the overwhelming majority (72 percent) still say that buying a home is a good financial decision. Almost twothirds (64 percent) say that now is a good time to buy a home.
The stalled economy continues to adversely affect the housing market. Confidence in job security is a top obstacle (80 percent say "huge" or "medium-size") to home ownership, while job layoffs and unemployment are ranked as the top problem facing Americans (61 percent say it is a "very big" or "fairly big" problem in their area).
Now take a look at the Huntsville's real estate sales for June.
Madison County/Huntsville Real Estate Sales Statistics
Huntsville and Madison County saw an
increase of 8% in sold listings in June 2011 when compared to May 2011. The average sales price increased by 9% to $206,620. The average price per square foot increased by 8% in June and the average list price increased by 8%, while market times decreased by 6%.
Date |
Sold Listings |
Average List Price |
Average Sale Price |
Percent SP/LP |
Average DOM |
Average Price Sqft |
June 2011 |
430 |
$212,501 |
$206,620 |
97.27% |
93 |
$82 |
May 2011 |
398 |
$196,831 |
$190,277 |
94.62% |
99 |
$76 |
For more information about Huntsville AL real estate, please visit MoveToHuntsville.com or call me at 256-508-0211.
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Statistics are based on information for the North Alabama Association of Realtors and are deemed reliable but not guaranteed.