Survey finds declining confidence in housing recovery

Consumer confidence in a recovery for the national real estate sector is waning.According to a recent survey conducted by Trulia and RealtyTrac, an increasing number of American adults are becoming less confident in a full recovery for the housing sector soon.Six months ago, a similar survey revealed that 42 percent of adults believed a recovery could happen in 2012, if it hadn't already occurred. However, in the companies' most recent survey, the total feeling the same way had declined to 23 percent. Furthermore, more than half of the survey's respondents – 54 percent – believed a full recovery wouldn't take place until 2014 or later.”Most Americans, as our latest survey revealed, overestimated how quickly the housing market would bounce back, but when it does, it will likely be a long and gradual process,” said Pete Flint, co-founder and CEO of Trulia. “Looking at the recent double dips in home prices, I expect the rest of 2011 to be volatile for real estate.”However, Flint still relayed that now might be the best time to enter the real estate market, as interest rates for mortgages will not remain low for much longer, nor will home prices continue to consistently decline.Markets with healthy job sectors could experience an uptick in sales based upon these sentiments, as more consumers are able to afford long-term debt. Thus, in areas such as Houston, real estate transactions could improve drastically.Courtesy of 2M Realty News?

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