Affordability Is Main Hurdle For Aspiring Home Buyers

Affordability Is Main Hurdle For Aspiring Home Buyers

NAR released a new Aspiring Home Buyers Profile that captures the consumer sentiment of the housing market for non-homeowners—defined as those that rent and those that live with someone else (such as family and friends) rent-free. The report is aptly named, for nearly nine in 10 non-homeowners expressed the desire to own a home of their own one day and eight in 10 stated that homeownership is part of their American Dream.

A third of all U.S. consumers households surveyed in 2016 were non-homeowners (34 percent), which is a sizable number of people who want to own a home but haven’t found a path to homeownership just yet. Of non-owners, 26 percent were renters and 11 percent were those living with someone else without paying rent. The typical non-owner is under 34 years of age (59 percent), has an income of less than $50,000 (64 percent), and lives in suburban areas (43 percent).  Read more!

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Phone: 585-746-1477
Dated: February 15th 2017
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