Gallup Poll Finds A New Low In U.S. Homeownership

Posted by Orb Staff on April 26, 2012 No Comments
Categories : Residential Mortgage

11419_140465091 Gallup Poll Finds A New Low In U.S. Homeownership A new Gallup poll has determined that 62% of Americans are homeowners – a new low since Gallup began tracking self-reported homeownership in 2001. This represents a substantial drop from the 68% level reported last year.

According to Gallup, 53% of Americans believe their house is worth more today than when they bought it, down significantly from 80% in 2008 and 92% in 2006. Lower home prices combined with continued low mortgage interest rates, have 70% of Americans believing now is a ‘good time’ to buy a house. This is about the same as in the past several years, but up from 53% in 2008.

However, Gallup has determined that Americans are not pessimistic about homeownership: 33% believe housing prices will rise this year, while 23% feel prices will continue to fall. Last year, Americans were about evenly split, with 28% anticipating rising prices and 30% believing otherwise.

The poll was based on telephone interviews conducted with a random sample of 1,016 adults.

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