Own a home? Brace yourself for an even longer recovery than anticipated. A new homeowners survey released jointly by Trulia.com and RealtyTrac suggests we won’t see a housing recovery until 2014 at the earliest now.
“I’d love to say we have taken a few steps forward, but the reality is we are backtracking,” says a somber Pete Flint, Chief executive of Trulia.com, a San Francisco, Calif.-based real estate listing site.
Every six months Trulia and RealtyTrac.com, an Irvine, Calif.-based foreclosure listing site, pair up for a homeowners survey conducted by Harris Interactive. The results of the last one, released in December, anticipated a 2012 housing market recovery. Between the sites’ own research and the sentiments of the 2,018 homeowners and renters polled from April 14-19, that expectation can be scratched. The survey indicates that 54% of Americans believe a recovery is at least another two and a half years away, up from 34% of Americans six months ago. Given the troves of recent reports pushing disappointing data, the bearish shift in sentiment is not a surprise.
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