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1Q12RealEstateRelease Final

1Q12RealEstateRelease Final

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Published by: Leigh Hornbeck Trombley on Apr 19, 2012
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09/02/2014

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SIENA RESEARCH INSTITUTE
SIENA COLLEGE, LOUDONVILLE, NY
WWW.SIENA.EDU/SRI 
Siena College Research Institute
New York State Consumer Real Estate Sentiment Scores
1
 st
Quarter 2012
 For Immediate Release:
Wednesday, April 18, 2012
 
For information/comment: Dr. Don Levy 518-783-2901For data summary, or charts, visit www.siena.edu/sri
Consumer Appraisal of Market Up, Hits Two-Year High
 NY’ers Still Say, “Great Time to Buy” 
 
Improved Outlook Strongest in New York City
Loudonville, NY --
Consumer sentiment towards the real estate market both current and future increasedby about twenty points and rebounded from a two-year low last quarter to a two-year high
,” according toDr. Don Levy, SRI‟s Director.
Today just over a quarter of New Yorkers say the market has improved atleast a little up from only one in seven last quarter. While many residents continue to be pessimistic abouthousing values, the percentage that now view the real estate glass as half empty has fallen from nearly half to only thirty-eight percent. The overall current sentiment score remains negative but this upturndemonstrates that along with stronger consumer confidence the mood towards real estate has risendramatically.
 
( ) reflects change from previous quarter
The overall current Real Estate Sentiment score among New Yorkers in the first quarter of 2012 is -19.6, below the pointwhere equal percentages of citizens feel optimistic and pessimistic about the housing market and it is up 22.1 points from lastquarter. Looking forward, the overall future Real Estate Sentiment score is 22.7 (up from 4.3 last quarter) indicating thatNew Yorkers expect the overall real estate market and the value of property to increase over the next year. Consumers seenow as a poor time to sell with a score significantly below breakeven at -30.9, but as a very good time to buy with a highpositive score of 33.4.
OverallCurrentOverallFutureSellCurrentSellFutureBuyCurrentBuyFutureNEW YORK STATE
-19.6 22.7 -30.9 21.1 33.4 22.2
NYC
-16.1 29.4 -26.2 27.8 32.7 23.1
Suburbs
-24.2 22.4 -37.1 21.4 41.0 23.9
Upstate
-21.0 14.4 -32.8 11.8 29.4 19.8
Male
-19.3 21.7 -27.4 22.0 40.4 22.8
Female
-19.9 23.6 -33.8 20.2 27.3 21.6
Less than $50,000
-24.9 20.5 -35.9 18.0 21.9 18.3
$50,000-$100,000
-19.5 25.3 -32.4 20.8 42.3 29.0
$100,000 or more
-9.9 25.8 -15.2 29.9 45.6 22.3
Homeowner
-18.8 24.1 -32.2 22.1 38.9 23.8
Renter
-19.4 19.4 -24.9 20.7 25.8 19.7
1
st
Quarter 2012Real Estate Sentiment:
1
st
Quarter2012NYC
Suburbs
UpstateOverall Current -19.6 (22.1) -16.1 (22.5) -24.2 (27.9) -21.0 (17.3)Overall Future 22.7 (18.4) 29.4 (24.3) 22.4 (20.3) 14.4 (9.7)Sell Current -30.9 (19.9) -26.2 (25.4) -37.1 (12.9) -32.8 (17.7)Sell Future 21.1 (17.9) 27.8 (23.8) 21.4 (18.0) 11.8 (9.7)Buy Current 33.4 (4.2) 32.7 (9.5) 41.0 (-0.1) 29.4 (0.1)Buy Future 22.2 (6.2) 23.1 (11.6) 23.9 (3.3) 19.8 (0.8)

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