The National Association of Home Builders issued their recent Housing Trends Report. This report is based on a Poll to 19,800 people, collected online from Dec 17th, through Dec 24th, 2019.
The Housing Trends Report (HTR) measures prospective home buyers’ perceptions about the availability and affordability of homes for sale in their markets.
Here are the main findings:
• Only 11% of respondents in Qtr4’19 are prospective home buyers (planning to buy a home within 12 months)
• 19% of Millennials have plans for a home purchase within 12 months, followed by Gen Z (13%), Gen X (12%), and Boomers (5%)
• A larger share of prospective buyers in Qtr4’19 are first-time buyers (63%) than the comparable figure a year earlier (53%)
• Nearly all members of Gen Z planning to buy a home are first-timers (88%), compared to only 20% of prospective Boomer buyers
• 19% of buyers in Qtr419 are looking to buy a new home, 40% of buyers are looking to buy an existing home, and 41% would buy either type
• 23% of Millennial prospective buyers want a new home, but 41% have no strong preference between new or existing. About 4 out of 10 buyers in all generations would buy either type of home
• 43% of adults with plans to purchase a home are actively trying to find one to buy, a significantly lower share than the comparable figure a year earlier (54%)
Contact us if you want the complete NAHB Housing Trends report..! If you consider it’s time to start buying a home, new or existing, feel free to contact us and you will get the current homes for sale in your area.
[Form id=”1″]Source: NAHB http://eyeonhousing.org/