Real Estate Trends

Despite media reports to the contrary, real estate is still considered a sound investment and affluent consumers are confident both in the current housing market and that the value of their home has remained constant, according to a consumer research study undertaken by Architectural Digest with Sotheby's International Realty Affiliates LLC.
In the newly commissioned survey, "Seeking an Extraordinary Lifestyle," 85 percent of respondents agreed with the statement, "I think real estate continues to be one of the better investments a person can make." The study further revealed:• 72 percent of respondents believe their primary home value has remained constant or increased in value over the last 12 months (46 percent remained constant; 26 percent increased). • Nearly two-thirds, or 63 percent, of respondents report that current conditions have "no effect" on their likelihood to sell their primary home.• In the next year, 55 percent of the million-dollar homeowners plan to buy, sell, build or invest in a new home.• 69% of million-dollar homeowners agree that now is a good time to add to one's real estate holdings.The respondents feel that the media plays a role in the perception of the current real estate market conditions. Fifty percent of respondents think the media exaggerates conditions to make the market seem worse than it is.
Source: REAL Trends