Americans remain optimistic about housing market

Here are some compelling, perhaps even telling, statistics: Fifty-five percent of American homeowners believe they could sell their home today for more than they could have a year earlier. And 74 percent feel they could sell their home within the next six months at the price they think it's worth. Those are just some of the results from a recent nationwide phone survey of 1,007 American adults by the Boston Consulting Group.

That apparent confidence in the housing market would seem to confirm the notion that fewer Americans are reading newspapers and watching the evening news. What else would explain the rose-colored-glasses optimism in the beleaguered housing sector, which, by many accounts, is in a major slump? Apparently many homeowners haven’t seen or heard the phrase “subprime-mortgage meltdown.”

"Americans believe their homes are still their best investment. They're positive about their homes' value and believe in a bounce-back in residential real estate overall," said Michael J. Silverstein, a senior partner at Boston Consulting who specializes in consumer spending.

Some other survey numbers:
• 85 percent of Americans think their house will be worth more in five years than it is now.

• 63 percent believe real estate remains a good or excellent investment.

Still, a dose of reality has crept into the picture. Sixty-four percent of Americans feel the drop in home prices is hurting the U.S. economy at least moderately. And 52 percent believe the housing slide will last two years or less, while 22 percent see it lingering for at least five years.—Steven H. Saltzman

Essential information: Read this recent blog entry if you’re planning to sell your home in this tough housing market.