Majority of Americans expect housing recovery after 2012

December 7, 2010

Another survey, another sign that consumers still are not sold on a housing recovery.

The latest came out today from Trulia and RealtyTrac, which found that 58 percent of Americans think the housing market will not recover for at least two years. Nearly a quarter won't recover until 2015 or later. About 15 percent think the market already has recovered or will next year.

About half of Americans would consider buying a foreclosure, according to the survey, but if they do, they expect a steep discount: 67 percent expect a discount of at least 30 percent, while 35 percent would expect a price cut of at least 50 percent.

That's very bad news for future home prices and for builders trying to compete in today's market.

You can read more about the survey results here.

Jonathan Sweet is the editor in chief of Professional Remodeler, an award-winning trade publication for remodelers and home improvement contractors. He started his career covering homes and small businesses at a daily newspaper and has spent more than a decade writing for several construction trade publications including Qualified Remodeler, Construction Pro and Concrete Contractor+Jonathan Sweet