"This survey... will add immeasurably to our understanding of housing markets, with unprecedented detailed information through time and across geographical areas. We have always been mostly in the dark about fundamental drivers of home prices–now that will change.”

"Over the last three decades, we have learned a great deal about the dynamics of home prices. Our research shows that real estate values have enormous wealth effects, but the markets are inefficient, and are propelled by expectations of market participants. These housing confidence data are critical inputs to our understanding of consumer behavior, and where real estate markets and the economy may be heading."