BEYOND THE NUMBERS, CONFIDENCE RETURNS TO HOUSING
The housing numbers are all heading in the right direction. Home prices up, foreclosures down and, perhaps the most important, consumer confidence in housing is swelling. Even as sales of new and existing homes bounce up and down month to month, the desire to buy is growing.
The percentage of Americans who say owning a home is an essential part of the American dream has hit a 3-year high at 79 percent, and the percentage who say it is better to own than rent grew by four points to 69 percent, according to the CNBC All-America Economic Survey. Perhaps the biggest surprise in the survey is that despite a raging, record-high stock market, more Americans believe a home is a better long-term investment than stocks.
This trend has also been in affect in our local lake st louis, wentzville, dardenne prairie, o’fallon mo markets. especially in the lower prices ranges where we are seeing multiple contracts on each property. Waterfront homes for sale in lake st louis and other upper end homes are still selling a little slower than the lower price ranges.