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A new study commissioned by Berkshire Hathaway HomeServices, part of billionaire investor Warren Buffett’s business operations, concluded that current and prospective homeowners are extremely optimistic about the U.S. real estate market.
According to the company’s Homeowner Sentiment Survey, 76 percent of prospective homeowners said this year is “a more ideal time to buy a home,” 61 percent of current homeowners and 65 percent of prospective homeowners believed that today’s market was favorable for both buyers and sellers. Seventy-two percent of prospective homeowners expressed concern that rising home prices will make it more difficult to buy a home, and 68 percent of these respondents said that increased rates would have “some impact or a strong impact on my life.”
“Though no one can predict the future, we believe there’s a high probability that mortgage rates will remain low for the foreseeable future,” said Berkshire Hathaway HomeServices President Stephen Phillips. “The Federal Reserve will act responsibly with future rate increases yet, to a degree, its hands are tied by the shaky state of the global economy. Aggressive tightening would not only choke progress in the U.S. economy, but would also impact foreign economies that continue to seek stability.”
The survey was conducted in February by Edelman Intelligence and polled 2,506 adults.