One in eight adults plan to buy a home in the next year

September 6, 2019 2:16 pm

One in eight adults plan to buy a home in the next year, according to a new study.

Millennials lead the way on 17%, with Gen X on 13%, Boomers on 7% and Seniors on 3%.

Most (12%) of respondents in the South and West are prospective home buyers, compared to 11% in the Midwest and 10% of those in the Northeast.

Of those planning to buy, 41% are already actively looking for the home. So says the Quarter 2, 2019 Housing Trends Report from the National Association of Home Buyers (NAHB).

Millennials, Gen X’ers, and Boomer buyers have got on with the process more quickly than senior buyers.

Almost half (45%) of buyer have been hunting for less than three months while the rest have been looking for longer. Those shares are close to the figures a year ago.

Around one in five (19%) want a new home, 40% a new or existing home and 41% an existing home.

Buyers in the South (21%) lead the way for those looking for a new-built property.

The Housing Trends Report measures buyer perceptions of the availability and also the affordability of homes for sale in their markets. It is produced quarterly to track changes in buyers’ perceptions over time.

All data is derived from national polls of representative samples of American adults conducted for NAHB by Morning Consult. Results are not seasonally adjusted.

Source: http://eyeonhousing.org/2019/08/only-12-of-adults-are-planning-a-home-purchase-in-the-next-12-months/