Statewide survey shows confidence in real estate

MAR commissioned the survey in August to gauge the possible impact of interest rate increases and the opinions of individuals in various occupations and real estate services. Respondents were selected randomly from a list of registered voters and surveyed by phone.

“The housing market is in the midst of one of the strongest and longest growth cycles in decades,” the report states. “But while experts debate whether higher interest rates and the law of averages will depress the housing market, it is clear that Missourians feel strongly that the good times will continue.”

Of the approximate 600 respondents, 60 percent said they believe it is a good time to sell a home, while 19 percent disagreed. Another 60 percent said it is a good time to buy home, compared to 25 percent who feel it isn’t.

Springfield trails Missouri’s two largest cities in regards to how many residents are likely to move in the next year. Locally, 33 percent of respondents said they are very or somewhat likely to move in the next 12 months, compared to 63 percent in St. Louis and 43 percent in Kansas City.

The overall opinion of real estate agents is high, as 84 percent of respondents are very or somewhat satisfied with services provided by Realtors.

In Springfield, 85 percent are very or somewhat satisfied with agents, in line with comparable responses in St. Louis, 85 percent, and Kansas City, 78 percent.

While 67 percent of Springfield respondents said they would use a real estate agent today, 40 percent said an agent’s expertise is needed to ensure smooth real estate transactions.

Respondents also rated their confidence in various professionals in the working world. Medical doctors were trusted most, with 95 percent pledging high or very high trust in them. The second-highest trusted occupation is K-12 teachers, with 94 percent. Car salespeople ranked second to last with 43 percent trust, and politicians ranked last with 29 percent confidence.

Of all respondents, 23 percent were somewhat familiar with the new Homeowners Bill of Rights in Missouri, which allows homeowners to take action against agents who fail to deliver promised services on listings. Still, 84 percent said the new law is important or somewhat important because homeowners should be able to take action against ineffective agents.

In Springfield, 63 percent are in favor of the Homeowners Bill of Rights, compared to 58 percent in St. Louis and 60 percent in Kansas City.