Consumers Feel Positive About Their Home

April 3, 2008

People are feeling very positive about their homes these days, despite a generally sluggish housing market. A recent survey conducted by Harris Interactive revealed an interesting insight into consumer sentiments. It indicated that about 77 percent of homeowners believe the value of their home has increased or remained the same during the past year. Also, many homeowners say they are planning to do things this year that you might not expect during a housing and credit slump.

For example, 82 percent will spend the same or more on minor home improvements, such as installing a new garbage disposal, repair or wall paper a room. And 67 percent say they will spend the same or more on major home improvements this year. Those projects might include replacing the roof or remodeling a kitchen. About a third of respondents to the survey say they plan to take out a home equity loan this year, or refinance their mortgage, or take out a second mortgage, or sell their home.

Posted in Real Estate, Things of Interest