Realtor Homes & Land, a provider of real estate media and marketing for over 37 years, recently launched Market Pulse. In February Homes & Land asked over one hundred thousand real estate agents to report their opinions about their local real estate market. The national, state, and county results are published in the Market Pulse Survey Report. Overall, optimism is improving with most agents reporting an increase in homebuyer interest. However, in states with the highest foreclosure rates, buying appears to be driven by distressed home sales.

When asked if President Obama’s Home Affordable Modification Program (HAMP) “has reduced the rate of foreclosures in your market,” only 10 percent of respondents said ‘yes’. Initial details about HAMP became available on March 4, 2009 with the promise of easing at-risk homeowners. The plan makes available $75 billion in funding for up to four million homeowners, providing a modified interest rate and three months of a probationary period.

“Foreclosures and short sales still appear to be driving home sales in several states,” says Eric Adair, Business Development Analyst for Homes & Land. “Unfortunately, the data on the program to date and the responses from our survey show that HAMP has done little to help. Clearly respondents to our survey don’t believe this program is helping to reduce foreclosures.”

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