Wealthy Americans Confident Home Values Will Increase
A survey released by The PNC Financial Services Group found that 65% of wealthy Americans surveyed regarding the real estate market said they expect to see double-digit increases in the value of their primary homes over the next five years. Almost 31% anticipate an increase of 20% or more.
Highlights of the real estate survey included:
- Only 7% of wealthy Americans expect any decline in the value of their primary homes over the next five years.
- Only 22% of wealthy Americans count real estate as one of their principal sources of wealth.
- There are significant regional differences in home price expectations. Floridians are the most bullish while New Yorkers and New Englanders are the most bearish. Californians are closer to national norms in their outlook.
Source: RISMedia