Is it time to buy? This is the question the National Association of Realtors recently asked over two thousand American homeowners. First, they wanted to survey whether or not Americans believe that it is a good time to buy a home. Second, they sought to see if consumers who think it is time to buy, also think selling is a valid option right now. From July to September, they collected data by sampling responses from a large group of American homeowners across the country. After recording information from a little over two thousand respondents, they were able to come to a few conclusions.
WHAT DID THEY FIND?
Over half of American consumers believe that it is a good time to buy a home. About 75% of the silent generation believes purchasing a home now would be the right choice. The second largest demographic that is optimistic is the late boomers. Similar to the silent generation, roughly 72% agreed with the silent generation. Also, when asked if it is also a good time to sell a home, 74% of respondents said yes. Another conclusion the NAR explained was the correlation between income and purchasing a home. Of the homeowners that were surveyed, the higher the income the more likely they were to be open to buying a home. The NAR’s economist Lawernce Yun stated, “This has always been the case, but in this third quarter survey, we see it to an even greater extent – high earners are more open to buying a home”.
To read more about the survey findings click here.
ARE YOU READY?
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