Majority Of Young Americans Want To Buy

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According to a recent survey from Pollara, 74 percent of 18-34 year olds plan to buy a home sometime in the next five years and nearly a third of them hope to buy in the next 12 months. The results confirm a high level of demand among young Americans who, for the most part, would be first-time home buyers. It also signals returning confidence in the housing market after years of volatility and instability. In fact, young Americans aren’t the only ones looking to purchase a home. A majority of Americans between the ages of 35 and 44 also said they plan to buy a home in the next five years and more than a third of those between ages 45 and 54 did as well. It is an encouraging sign for the residential real estate market and bodes well for future home sales and housing starts. Higher demand and more buyers will also help moderate price increases and boost for-sale inventory. The survey, which included current owners and renters, found that, among renters, 32 percent said they’d like to buy but can’t afford to, while just 12 percent said they prefer renting. More here.

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