Eye On Housing
According to NAHB’s latest Housing Trends Report, the share of Americans who are considering the purchase of a home in the next 12 months was 11% in the second quarter of 2020, essentially flat when compared to the same quarter in 2019 (12%). In light of the COVID-19 crisis, this finding indicates that the overall propensity of Americans to want… Read More ›
As revealed in a previous post, 56% of buyers who are actively engaged in the process of finding a home have spent upwards of 3 months searching unsuccessfully. What is holding them back? 40% say they can’t find a home at a price they can afford and 32% each say they can’t find a home with the features they want… Read More ›
Of the 10% of American adults considering a home purchase in the first quarter of 2020, about half (49%) have moved beyond just planning and are actively engaged in the process to buy a home. This “active buyers” share was slightly higher than in the first quarters of 2018 and 2019—both 46%, and a possible sign that low interest rates… Read More ›
While home buyers report slightly more optimistic expectations for future housing availability (see earlier post) in the first quarter of 2020, there is no commensurate improvement in their outlook for affordability. In fact, 78% say they can afford fewer than half the homes available in their markets, the same share as a year earlier. This in turn means that only… Read More ›
According to the latest Housing Trends Report (HTR), the share of prospective home buyers expecting their house search to get easier in the months ahead rose to 25% in the first quarter of 2020, up from 16% and 22%, respectively, in the first quarters of 2018 and 2019. This rise marks the third consecutive year-over-year increase in the share of… Read More ›
According to NAHB’s latest Housing Trends Report (HTR), the share of adults who are considering purchasing a home in the next 12 months fell to 10% in the first quarter of 2020, down from 17% and 13%, respectively, in the first quarters of 2018 and 2019. This decline marks the sixth consecutive year-over-year drop in the share of American adults… Read More ›
As revealed in a previous post, 60% of buyers actively searching for a home to buy in the final quarter of 2019 have been looking – unsuccessfully – for at least three months. Why is it taking these buyers that long to pull the trigger? Once again, the most common reason is they can’t find a home at a price… Read More ›
Of the 11% of American adults considering a home purchase in the final quarter of 2019, only 43% reported being actively engaged in the process to find and buy a home. A year earlier, the comparable share of active buyers was a much stronger 54%. This finding suggests that mortgage interest rates steadily below 4.0% in recent months have not… Read More ›
While home buyers may have slightly more optimistic expectations about future housing availability (see earlier post), there is no improvement in their outlook for affordability. In the fourth quarter of 2019, 79% say they can afford fewer than half the homes available in their markets, which is higher than the 76% with that opinion a year earlier. This marks the… Read More ›
In the final quarter of 2019, home buyers are less likely (65%) to think housing availability will get harder (or stay the same) than in the final quarter of 2018 (72%). Put another way, fewer home buyers expect housing availability to worsen. On the contrary, the share of optimistic buyers expecting an easier home search process in the months ahead… Read More ›