Beazer Homes survey indicates optimism in current buyer’s market

Despite all of the negative commentary about the housing and credit markets, 64 percent of Americans believe that for those with good credit and a down payment "this is an ideal time to buy a home," according to a study commissioned by Beazer Homes, a nationwide home builder.

A full 24 percent of survey respondents -- from Gen Y to baby boomers -- say they plan to buy a new home in the next two years either as a primary residence or second/vacation home.

"We know the American consumer believes with great conviction that home ownership is a smart investment over the long term," said Ian McCarthy, president and chief executive officer of Beazer Homes. "Savvy consumers realize that housing is a cyclical industry and some appear to be waking up to the opportunities that do exist in today's marketplace. Whether they act on this conviction remains to be seen, but the underlying sentiment bodes well for the industry."

Indeed, 65 percent of survey respondents agree that given the current supply of homes for sale and special incentives, this is "truly a buyer's market." And, 39 percent believe that tentative buyers who are waiting for home prices to go lower risk "missing out on one of the greatest home-buying markets in recent history."

The survey found 70 percent of experienced home buyers -- those who have purchased at least one home -- urging renters to purchase a home as soon as he or she is financially able to do so.

This sentiment seems to resonate with prospective first-time buyers, with 30 percent citing they are "looking to make an investment" as their primary motivation.

This is followed by the desire for a better location (22 percent) and the need for a bigger home (21 percent). Experienced buyers, on the other hand, ranked a "desire for less maintenance and upkeep" (35 percent), better location (27 percent) and investment (14 percent) as the primary motivations for their next home purchase.

Across the board, consumers appear optimistic about the availability of home mortgage options. For experienced buyers, 75 percent believe there are plenty of mortgage options available for those with good credit compared with 53 percent of first-time buyers. When it comes to securing a home mortgage, 24 percent of total respondents report they are currently saving for a down payment.

Benefits to purchasing a new home include more livable floor plans, better warranties, energy-efficient systems and options and, in many instances, the ability to personalize features such as flooring, cabinetry and paint colors, said McCarthy.

Beazer Homes surveyed 548 adults nationwide, Jan. 4-7, between the ages of 25 to 72 with a minimum annual household income of $40,000.