Two-Thirds of Americans Still Prefer to Own a Home

Mortgage lender Fannie Mae has released its annual National Housing Survey, which contains some interesting insight regarding Americans’ views of home ownership. If you want to check out what others look for in homes, and get an idea of what’s important to most home owners and renters, you can check out Fannie Mae’s survey fact sheet here.

Despite the negativity surrounding real estate, a recent survey found that 65 percent – nearly two-thirds – of Americans still see the value in owning a home. The survey was conducted by mortgage lender Fannie Mae and consisted of both homeowners and renters. Both groups indicated the majority sentiment was that owning a home was what they preferred, although they seem to be more careful about the commitment of home ownership, now that property values have fallen in many markets.

“Consumers are still committed to owning a home, but are showing increased cautiousness, regardless of whether they rent, own their homes outright or have a mortgage,” said Doug Duncan, Vice President and Chief Economist of Fannie Mae, in a news release.

The survey indicates that respondents view homeownership as a longer-term option, rather than the “flipping” mindset that seemed to prevail when the market was booming. Things such as personal safety and school districts are important to most home-buyers, according to the Fannie Mae survey.

Despite some of the uncertainty in some markets – and the negative reports in the media – 7 out of 10 respondents believe a home is one of the safest investments you can make.  Also, 64 percent of those surveyed believe now is a good time to buy a house, and 73 percent predict that home prices will rise or stay the same over the next year.