Although a number of consumers are still very pessimistic about the future of the economy, many of them anticipate property values to increase during the course of the next year.
On average, Americans anticipate the values of their homes to appreciate 0.4 percent during the 12-month period ending March 2013, according to a survey conducted by CNBC. While this is only a marginal change, it is the first time a majority of homeowners shared positive sentiment about the future of their homes since 2007.
The anticipation of this slight shift is also a strong indicator that Americans are starting to become more aware of the current state of the housing market. In the years following its collapse, many people expected property values to return to their peak levels at a quick rate. While this would be positive for a number of different industries and the overall economy, experts say it isn't realistic.
The presence of distressed properties will continue to add downward pressure to home prices for quite some time, but consumers are adapting. Real estate data from RealtyTrac indicated that during the first quarter, an estimated 26 percent of all home sales were for either foreclosures or short sales.