As the housing market continues to stabilize, homeowners across the country rate their homes as their most valuable investment, according to a recent study conducted on behalf of the National Association of Home Builders (NAHB).
Nearly seven of 10 homeowners list their home as their top investment, while 11 percent rate 401(k) and other retirement accounts as their best investment.Eighty-one percent of homeowners also remain confident that the value of their home will increase during the next five years, while 13 percent felt their home value will decline.
"We are in the midst of an inevitable adjustment following the housing boom of 2004-2005 when housing market activity soared to unsustainable levels," said NAHB Chief Economist David Seiders. "Housing demand should stabilize in short order and the downward adjustment to housing production should run its course by mid-2007.
The market that emerges from this correction will display good balance between supply and demand and move to a healthy and sustainable trend based on solid underlying fundamentals."
**Taken from the California Association of Realtors Bulletin, dated November 16th, 2006.
