Poll: Most see buyer’s market in housing

PRINCETON, N.J. – Jan. 18, 2011 – Most Americans say they think now’s the time to buy a new house, and some still expect home prices in their area to drop rather than rise, Gallup reported Monday.

A new poll indicated 67 percent of Americans said they thought now was a “good time” to buy a home – 5 percentage points lower than the 72 percent who expressed the same view last April.

The findings indicate that Americans are holding onto the perception that now is a buyer’s market despite the challenges in securing financing and a warning of a double-dip housing crisis, the Princeton, N.J., polling agency said.

Twenty-seven percent of Americans said they expected home prices in their communities to fall in 2011, while 21 percent said they thought values would increase. In a separate question, Gallup reported 42 percent of respondents said they were worried that their own house will lose value.

Results are based on nationwide telephone interviews conducted with 2,018 adults Jan. 7-9. The margin of error is 4 percentage points.

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