Despite the ups and downs of the housing market, home owners and non-owners alike consider owning a home essential to the American Dream according to a survey conducted on behalf of the National Association of Home Builders (NAHB) by Public Opinion Strategies of Alexandria, VA, and Lake Research Partners of Washington, D.C.

The survey results show that Americans see beyond the immediate housing market to the enduring value of homeownership. An overwhelming 75 percent of the people who were polled said that owning a home is worth the risk of the fluctuations in the market, and 95 percent of the home owners said they are happy with their decision to own a home.

One of the more striking aspects of the survey results is the intensity of sentiment among potential voters, according to Celinda Lake, president of Lake Research Partners. “People believe overwhelmingly that owning a home is an anchor to the American Dream,” she says. “It’s an anchor to your retirement, and it’s an anchor to your personal economic well-being.”

Among the other survey results:

73 percent said owning a home is one of their goals
• Homeownership and a retirement savings program are considered by voters to be their best investments.
• 80 percent of home owners would advise a close friend or family member just starting out to buy a home.
• Saving for a down payment and closing costs is the biggest barrier to homeownership.
• Americans believe that owning their own home is as important as being successful at their job or being able to pay for a family member’s education.

Owning a home is not just a commodity to people. It is a core value.

Now take a look at how the Los Angeles real estate market performed in May.

Beverly Hills Real Estate Sales Statistics - Single Family Homes

Beverly Hills Sold Listings Low Price Median Price High Price
May 2011 10 $1,050,000 $2,395,000 $7,300,000
May 2010 9 $1,171,000 $2,726,000 $3,452,730

Beverly Hills Post Office Real Estate Sales Statistics - Single Family Homes

Beverly Hills Post Office

 Sold Listings Low Price Median Price High Price
May 2011 9 $545,000 $1,607,500 $22,950,000
May 2010 11 $642,500 $1,885,000 $3,417,000

Bel Air Real Estate Sales Statistics - Single Family Homes

Bel Air Sold Listings Low Price Median Price High Price
May 2011 20 $425,000 $1,622,500 $21,500,000
May 2010 8 $1,250,000 $1,607,500 $16,250,000

Hollywood Hills East Real Estate Sales Statistics - Single Family Homes

Hollywood Hills East Sold Listings Low Price Median Price High Price
May 2011 8 $473,000 $742,500 $1,975,000
May 2010 11 $460,000 $899,000 $1,259,000

Hollywood Hills West Real Estate Sales Statistics - Single Family Homes

Hollywood Hills West Sold Listings Low Price Median Price High Price
May 2011 29 $680,000 $1,515,000 $5,300,000
May 2010 32 $545,000 $1,122,500 $5,400,000

West Hollywood Real Estate Sales Statistics - Single Family Homes

West Hollywood Sold Listings Low Price Median Price High Price
May 2011 6 $645,000 $762,000 $2,150,000
May 2010 6 $560,000 $1,327,500 $2,077,000

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