Trulia.com has released the results of its biannual American Dream Survey, which has tracked American attitudes towards homeownership since 2009. Harris Interactive conducted this online survey on Trulia's behalf in January 2011 among 2,079 U.S. adults aged 18 and over. Although foreclosures and underwater homes continue to plague the current housing market, 70 percent of Americans still view homeownership as being part of their American Dream. In fact, more than three out of four homeowners (78 percent) say their homes are the best investment they ever made. Conversely, only 20 percent feel trapped in their "underwater" homes while 14 percent said they would walk away from their homes in a heartbeat if they could.

"Contrary to popular belief, the American Dream of homeownership has not turned into an American nightmare. In fact, we're seeing a national resurgence of buyer and seller activity on Trulia.com," said Pete Flint, chief executive officer of Trulia. "In January alone, we experienced an unprecedented level of site traffic including 11 million unique visitors--which is more than 70 percent year-over-year growth. We've seen leads to agents increase 60 percent year over year and are now experiencing 100,000 property views per minute."

Although many of today's young adults came of age during the housing crash, more than one in four (26 percent) say their views on owning a home have become more positive over the past six months. With 88 percent of 18-34 year old renters aspiring to be homeowners, this new generation of buyers will likely play a crucial role in stabilizing today's uncertain real estate market.

"Although the American Dream of homeownership remains surprisingly strong, it will not be an immediate reality for most people," said Tara-Nicholle Nelson, consumer educator for Trulia. "Uncertainty has caused most would-be buyers across the nation to play a waiting game with the market, leading them to put their home purchases on hold for at least two years. However, new data shows that most renters in the South and West have long-term plans to buy, which is great news for America's hardest-hit regions."