Americans have, according to Gallup polls, perceived that the nation’s housing market is a buyer’s market since 2003. The trend continues today, with 67 percent of Americans reporting that they believe that now is a “good time” to buy a house[1]. Not surprisingly, however, the reasoning for this has changed pretty significantly over the past eight years.

From 2003 to 2005, between 70- and 80 percent of Americans believed that it was a good time to buy a house because they believed that investing in a property would swiftly yield a profit as the property appreciated. With the fall of the market in 2006, that number fell to 52 percent, but it climbed from that point and returned to the low 70’s and high 60s in 2009. Now, however, the rationale is different. Now this is a buyer’s market because there are great deals and motivated sellers on nearly every corner. However, the fact that such a large percentage of the population still believes that this is a good time to buy bodes well for avoiding a “double dip” in the market according to Gallup.

However, that optimism about the market does not extend to housing prices. At least for now, appreciation is among the least of Americans’ considerations when they purchase a home. Cash flow and desirability have taken the place of climbing value when Americans evaluate a potential purchase, largely because a third of the country believes prices could go farther down while more than half believe that prices will stay about the same.

In a market where perception plays such an enormous role in real value, do you think that these numbers bode well for the 2011 market? Are you in the market for property today?

Thank you for reading! Your comments and questions are welcomed below.

[1] http://www.gallup.com/poll/145616/Americans-Buyer-Market-Housing.aspx