According to the results of the most recent NAR survey conducted Harris Interactive:
– 88% still say owning was a positive or very positive experience, even for homeowners who have rented since owning.
– More than 6 in 10 renters report they are at least somewhat likely to purchase a home at some point in the future.
– Of renters who plan to purchase a home at some point in the future, most expect to do so in the next five years.
Here is the survey:
Download attitudes_homeownership_exhibits_2011.pdf
All indicators that at the end of this year the real estate market could be turning around not towards the seller but towards a balanced market. Renters will become owners, and as less and less inventory is available to rent because these property will be occupied by new owners, landlords will have a lesser pool of tenants, but also less competition.