Tag Archive for ‘housing trends report’

Buyers’ Expectations of Housing Availability Improve

For the first time since 2020, prospective buyers expect housing availability to improve.  After falling steadily for five quarters, the share expecting the home search to get easier in the months ahead grew from 17% to 22% between the first and second quarters of 2022.  Less competition from buyers priced-out of the market by recent increases in mortgage rates is… Read More ›

Some Buyers Turning to New Construction

After falling steadily for five quarters, the popularity of new homes rebounded in the second quarter of 2022, as 21% of prospective buyers reported looking for a newly-built home – up from 19% a quarter earlier.  A possible reason for this pivot is the recent growth in the inventory of new homes for-sale, while the supply of existing homes on… Read More ›

Housing Demand Flattens as 1st-Time Buyers Retreat

The share of adults planning a home purchase within a year stood at 13% in the second quarter of 2022, unchanged from the previous quarter, but lower than a year earlier (17%).  The leveled reading suggests that, after shrinking for the past three quarters, the pool of potential home buyers may have stabilized. Part of the reason housing demand has… Read More ›

Buyers Feeling Grim About Housing Affordability

Buyers’ expectations for housing affordability continue to sour.  In the first quarter of 2022, 81% said they could afford less than half the homes for-sale in their markets – the highest share since before the pandemic.  At its lowest point in the 4th quarter of 2020, 63% of buyers expected to afford <50% of the homes available.  On the other… Read More ›

High Building Materials Prices Erode Preference for New Construction

Preference for newly constructed homes skyrocketed in 2020, as buyers looked for homes with more square footage and amenities in which to work remotely, school children, exercise, etc.  By the fourth quarter of 2020, 42% of prospective buyers preferred new construction.  Since then, however, rising new home prices (driven by a 31% increase in the cost of building materials) have… Read More ›

Housing Demand Is Softening

The share of adults planning a home purchase within a year fell for a third straight quarter in the first three months of 2022, down to 13%.  The last time fewer American adults intended to buy a home was in the second quarter of 2020 (11%).  The decline is evidence that the COVID-induced boost to housing demand is past its… Read More ›

Once Again, High Home Prices Are to Blame

An earlier post revealed that 67% of buyers who were actively engaged in the process of finding a home in the final quarter of 2021 have spent 3+ months searching for a home without success. The inability to find a home they could afford once again became the most common reason (41%) these long-time searchers could not buy a home. … Read More ›