Eye On Housing
An earlier post revealed that 64% of buyers who were actively engaged in the process of finding a home in the first quarter of 2021 have spent upwards of 3 months searching for a home without success. For the second time in this series history, the most common reason long-time searchers haven’t pulled the trigger is not because they can’t… Read More ›
Of the 16% of American adults considering a future home purchase in the first quarter of 2021, 63% have moved beyond planning and are actively trying to find one to buy, up from the comparable 49% share a year earlier. This increase marks the fifth consecutive year-over-year gain in the share of prospective buyers who have become active buyers. Several… Read More ›
Housing affordability weakened slightly during the first quarter of 2021 as rising material costs and supply shortages, along with expected increases in mortgage rates stemming from a growing economy, are likely to exacerbate affordability challenges in the year ahead. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), 63.1 percent of new and existing homes… Read More ›
For some home buyers, housing affordability has improved. According to the Housing Trends Report for the first quarter of 2021, 35% of buyers report being able to afford half or more of the homes available for-sale in their markets. A year earlier, that share was 23%. The increase is an indication that still relatively low mortgage rates continue to have… Read More ›
In the first quarter of 2021, more prospective home buyers (33%) expect that finding the right home will get easier in the months ahead than did a year earlier (25%), according to the latest Housing Trends Report. A majority of buyers (61%), however, still expect the house search will become harder or stay about the same in the near future,… Read More ›
A recent post revealed that 16% of adults are planning a home purchase in the next 12 months. Among that group of prospective buyers, 42% are looking to buy a newly-built home and 30% an existing home. A year earlier, in the first quarter of 2020, only 24% of buyers reported a preference for new homes, while 40% were looking… Read More ›
Sixteen percent of American adults are considering the purchase of a home in the next 12 months, according to NAHB’s Housing Trends Report for Qtr1’21. That is six points higher than the 10% with similar plans a year earlier. The increase marks the third (and largest) year-over-year gain in the share of prospective buyers in the series history. This steady… Read More ›
A new question introduced to the 2021 Edition of What Home Buyers Really Want* showed buyers pictures and descriptions of four exterior designs and asked for their preference. Results reveal that buyers have quite diverse preferences for the exterior style of their home, since none of the choices was preferred by anywhere near a majority of buyers. At best, a… Read More ›
A multigenerational home is desirable to some buyers, but not to all. According to What Home Buyers Want, 2021 Edition*, buyers are evenly divided when it comes to the desire for a home designed to house the buyer as well as a younger generation and an older generation: 39% would prefer such a home, but 39% would be against it…. Read More ›
According to the latest What Home Buyers Really Want*, 60% of home buyers would prefer a newly-built home over an existing home. In other words, all else equal, their first preference would be to purchase a new home. Looking at historical data shows a clear shift in preferences towards new construction in 2020. The share of buyers who would have… Read More ›