Bay State homeowners, brokers, lead nation in real estate optimism
The rest of the country is bracing for another double dip in home prices.
But a sizable chunk of homeowners here in Greater Boston and beyond the 495 beltway are anticipating not a decline but rather a jump in real estate values over the next six months, HomeGain reports.
Massachusetts is No. 2 in the nation in homeowner optimism, with nearly 30 percent believing their castles will be worth more come June 2011 than they are now.
Virginia tops the country, with 37 percent of its homeowners in an optimistic mood.
Bay State brokers and agents, in turn, are the fourth most optimistic right now in the country, with 17 percent banking on increasing prices.
Our relatively rose colored view of the real estate market contrasts sharply with the gloom that has descended over the rest of the country.
Nationally, only 12 percent of real estate brokers and 20 percent of homeowners predict prices will rise over the next six months. Indeed, nearly half of brokers and 30 percent of homeowners across the country see prices going down, not up, over the next six months, HomeGain reports.
It's probably no coincidence that both Massachusetts and Virginia lead the pack in homeowner optimism, such as it is. Don't get me wrong, there is certainly lots of gloom to spare in this market, and rightfully so given the challenges ahead.
But both states have been spared the worst of the Great Recession, with high-tech and biotech industries powering an early comeback here in Massachusetts while Virginia rides a years-long surge in federal spending.
Check out this Globe West article on jobless rates in the western suburbs - certainly it pays right now, at least when it comes to employment, to be here in Greater Boston.
