An NAHB Economics poll conducted during the first quarter of 2018 found that 17% of American adults plan to buy a home within the next 12 months. The Housing Trends Report (HTR), a new research product, aims to measure prospective buyers’ perceptions about the availability and affordability of homes in their markets.
Among respondents planning to buy a home in the next year, 45% said they’re in the market for their first home, NAHB’s Eye on Housing reports. In contrast, 24% of respondents to a survey in the last quarter of 2017 said they plan to purchase a home within a year, 60% of whom reported as first-time buyers. Eye on Housing’s Rose Quint writes:
More granular findings for the first quarter of 2018 show that Millennials were the likeliest generation to have plans to buy a home in the next 12 months (19%) while Seniors were the least likely (13%). For a large majority (72%) of Millennials planning a home purchase, this is their first attempt at becoming home owners. In contrast, fewer than half of the older three generations say this next home will be the first one they ever own.
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