Homebuyers more Confident

Homebuyers more confident about home purchase - survey finds

Homebuyers are feeling more confident about the recovery of the residential real estate market, according to a new survey from real estate firm Redfin.

Redfin, a technology-powered real estate broker, found 71 percent of homebuyers believe that home prices will increase in their neighborhood in the next year, up from 61 percent last quarter.

“Redfin expects the 2013 home-buying season to kick off early in January with very strong demand, which, paired with low inventory, will cause prices to continue to rise steadily into spring,” a statement from the company said.

Low inventory has remained a constant source of frustration among homebuyers for nearly all of 2012. Nearly 60 percent of homebuyers said their chief concern about purchasing a home was the smaller number of homes to choose from.

Only five percent of respondents surveyed said they are concerned about the Fiscal Cliff and possible changes to the Mortgage Interest Deduction.

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