Consumers say buying a home still adds up to a smart idea

Nearly eight out of 10 Americans believe buying a home is a good financial decision and more than two-thirds say now is a good time to buy that home, according to the 2010 Housing Opportunity Pulse Survey from the National Association of REALTORS®.

The eighth annual survey measured how affordable housing, job security and other economic issues affect consumers and the housing market. The economy may be on consumers’ minds, but they still believe in the power of homeownership. In fact, the majority of renters surveyed said owning a home in the future is a priority.

Other survey findings:

  • Two-thirds of consumers believe that home values have stabilized in their area.
  • More than one-fourth of renters say they are thinking more about buying a home than they were a year ago.
  • The majority see job insecurity and a lack of jobs as the primary obstacle to homeownership and a market recovery.
  • More than half say foreclosures remain a problem in their area, but say the rate of foreclosures seem to be stabilizing.

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