A scant 10% of Americans plan to move to a new residence this year, while 70% plan some sort of home improvement, showing that consumers continue staying put as they wait for the housing crisis to finish playing out.
Of those looking to move, some 44% expect to buy, while 42% are looking to rent, according to the latest American Express Spending & Saving Tracker survey released Wednesday. (The questions related to moving are new this year, so no previous comparison is available.)
Not surprisingly, the survey found a lack of confidence in the housing market is hampering buying and selling activity. More than half of those surveyed are “not very/not at all confident” that they would get their asking price. Most respondents are also willing to make concessions to help sell their home — including paying for buyer’s closing costs (15%), offering to make requested repairs (29%), offering to include appliances (41%) and offering to include furniture (12%).
Read more: http://blogs.wsj.com/developments/2012/03/28/survey-finds-americans-staying-put/