Eye On Housing
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 ›
Despite help from the lowest mortgage rates in three years, an NAHB poll* conducted in the third quarter of 2019 shows that a strong majority of prospective home buyers continue to have poor expectations about being able to afford the homes for-sale in their markets. In fact, 80% say they can afford fewer than half the homes currently available where… Read More ›
Only 21% of prospective home buyers (people planning a home purchase) expect that finding the right home to buy will get easier in the months ahead, according to NAHB’s Housing Trends Report for the third quarter 2019. That share is slightly better than the 19% who had the same expectation a year earlier. On the other hand, a majority of… Read More ›
As revealed in a previous post, 55% of buyers actively searching for a home to buy in the second quarter of 2019 have been looking – unsuccessfully – for three months or longer. Why is it taking these buyers that long to pull the trigger? The most important reason is they can’t find a home at a price they can… Read More ›
A national poll in the second quarter of 2019 revealed that 12% of adults are thinking about buying a home in the next 12 months. Of that group, 41% are already actively engaged in the process of finding a home to purchase, which is a smaller share than a year earlier, when 50% of prospective buyers were engaged in the… Read More ›