Prudential Real Estate '11 Consumer Market Assessment

Prudential Real Estate2011 CONSUMER MARKET ASSESSMENT

Survey Period: January 20 – 27, 2011

Respondent Breakdown:• 500 Recent Transactors – Bought/Sold home within the last year• 500 Likely Transactors – Likely to Buy/Sell home within year• 253 Contemplators – Considered Buying/Selling within last year

but didn’t

Demographics of Respondents:• Respondents 25 – 64 years of age• Household income of at least $50,000

Optimism about the market is guarded

House-hunters recognize a good opportunity

Americans striving to move-up is a driving force

Challenges of a complex market inhibit actions

Emotions run high with the thought of selling

In reality, very few show seller’s remorse

The greatest challenges of selling . . .

Consumers are humbled by market conditions

Despite guidance of agents, many stick to their guns

Rational philosophy of pricing often becomes clouded by emotion and doubts

Sellers may need to be carefully coached to be more realistic about pricing strategy

Real estate agents seen as ‘helpful’; today’s market presents prime opportunity to prove ‘vital’