Churchill Survey: Homeownership Still Part of American Dream
By: Tory Barringer
According to the results of a recent survey by Churchill Mortgage, the majority of homeowners who purchased homes in 2009-2010 regard homeownership as a part of the American Dream.
The survey, released Wednesday, revealed that more than 83 percent of 2009-2010 homebuyers believe owning a home is still an integral part of the American Dream. Furthermore, 88.7 percent of respondents said they were happy with their purchases, citing a multitude of reasons such as the “stability of owning [their] own property,” the relief of “getting away from renting,” and “having a yard and a real ‘neighborhood feel,’” to name a few.
The survey also found that the market is seeing a rush a first-time homebuyers. More than 44 percent of respondents were first-time buyers, and 86 percent of respondents said they would encourage others to buy their first home now.
With home prices increasing steadily so far in 2012, nearly 80 percent of respondents said their property had either increased or retained the same value.
The overall positivity is a good sign for the market, said Mike Hardwick, president of Churchill Mortgage.
“As evidenced by our recent survey, confidence levels in the housing market are improving,” he said. “Fewer borrowers are experiencing buyer’s remorse, and not one survey respondent said they regretted their decision. This is a positive sign we’re seeing, and by 2013, we can expect to see greater home sales and a more stable economy.”
Headquartered in Brentwood,Tennessee, Churhill provides conventional, FHA, VA, and USDA residential mortgages across 23 states.
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