Interest Rates Are on the Minds of Consumers in Berkshire Hathaway HomeServices’ Latest Homeowner Sentiment Survey
Overall favorability toward residential real estate holds steady ahead of the Federal Reserve’s December meeting; Millennials, the most optimistic group surveyed, look beyond starter houses to dream homes
Current and prospective homeowners – particularly Millennials — remain optimistic about the state of the U.S. real estate market yet they expressed concern over the prospects of rising interest rates in Berkshire Hathaway HomeServices’ latest Homeowner Sentiment Survey released today by Berkshire Hathaway HomeServices Gallo Realty.
Overall, 66% of current homeowners and 63% of prospective homeowners view the U.S. real estate market favorably – a sentiment that has remained steady throughout 2016. Notably, Millennials (defined in the survey as people ages 18-34) were the most optimistic generation, with 74% reporting a favorable view, representing a 15-percentage point jump since the same time last year. Two-thirds of Gen-Xers (ages 35-50) also expressed a favorable view – an 8-percentage point increase from last year.