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Friday, June 22, 2007

Things Are Looking Up on the Supply Side

by Tanta on 6/22/2007 12:13:00 PM

The good news?

NEW YORK — Slumping sales and drooping prices haven't diminished homeowner optimism about their own nest egg's value, a recent survey shows.

The survey by Boston Consulting Group showed that 55% of Americans believed they could sell their house for more now than a year ago, down slightly from the 59% who felt that way last summer.

Nearly three-quarters think they could sell their homes within the next six months at a price they set, and 63% believe that real estate is a good or excellent investment.

The bad news?

However, most Americans aren't planning to buy a new home anytime soon. Only 27% said they were likely to purchase a house in the next five years.

UPDATE: The worst news? Tanta forgot to hat tip lama.