85% of Recent Home Buyers See Their Home As a Good Investment

The National Association of REALTORS® just released their 2010 Survey of Home Buyers and Sellers which shows that people still look at home ownership as a good long-term investment and the typical seller is experiencing positive returns from home ownership.

As expected, job security concerns were among the highest in eight years of sampling. A majority of Americans said layoffs and unemployment are top concerns, and eight in 10 say those issues are barriers to homeownership. Job security remains one of the main obstacles for consumers who are considering whether to buy, although homeownership still is a worthy long-term investment.

Despite attractive prices and low rates, a majority of Americans, 79 percent, consider having enough money for down payment and closing costs to be among the biggest obstacles to owning a home. Survey respondents also were concerned about their ability to be approved for a loan.

While foreclosures still are an issue, survey respondents state the rate of foreclosures is stabilizing in their area. The survey also showed a slight increase in the number of people who believe the federal government should take a more active role in overseeing loans and mortgages.

According to the survey, the number of first-time home buyers rose to a record high 50 percent of all home sales from 47 percent in the 2009 study.