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Monday
Jan172011

Poll: Most Americans Feel Now Is a 'Good Time' to Buy a Home

Photo Courtesy - Getty Images(PRINCETON, N.J.) -- Results from a recent Gallup poll show that 67 percent of Americans feel that now is a "good time" to buy a home.  These results are similar to previous polls: 72 percent in April 2010 and 71 percent in 2009. 

Gallup says that historically low interest rates and home prices, along with the huge supply of unsold homes and record high number of foreclosures, suggest bargains could continue to get better as the year unfolds, giving Americans "good reason" to think now is a good time to buy a house.

But Gallup also notes that today's housing market conditions may not be in favor of all home buyers.  The pollster says the housing finance system currently works in favor of cash buyers and buyers with perfect credit.  Due to the federal takeover of Fannie Mae and Freddie Mac, the market is limited to potential buyers who can meet their more restrictive loan requirements or those who can buy without a loan.

"As a result," the Gallup report states, "although many feel this is a good time to buy, relatively few can take advantage of the situation."

Copyright 2011 ABC News Radio 

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