20% of Fla. home shoppers could enter the market soon
CHICAGO – July 30, 2014 – A conducted by Pollara survey and released by BMO Harris Bank found that 68 percent of Florida homeowners believe the value of their home will go up over the next 12 months, and 13 percent expect the value of their home to go down.
Over the past year, 61 percent of Floridians felt their home's value had increased, and 24 percent thought it had gone down.
"Market prices overall continue to indicate that we are in a recovery, and this was reflected in our survey results with buyer optimism," says Sheila Blom, head of Florida mortgage sales for BMO Harris Bank. "We've seen this reinforced by an increase in home buying activity this year."
Floridians mortgage attitudes
"Housing affordability remains historically very attractive, despite rising home prices and borrowing costs coming off their lows. As a result, there continues to be decent demand for homes, assisted from firming household formation," says Michael Gregory, head of U.S. economics, BMO Capital Markets. "Although overall U.S. housing activity is experiencing slower momentum than we saw earlier in the recovery, positive developments such as the recent down-drift in mortgage rates and solid job numbers should give an added boost to housing."
At the national level
Survey results come from an online sample of 2,500 Americans, including 250 from the Florida, conducted between April 1st and 7th, 2014. The margin of error for a probability sample of 2,500 is +/- 1.96 percent for the national numbers and +/- 6.2 percent for Florida results.
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