Fourteen percent of American adults plan to buy a home within the next 12 months, according to a national poll of American adults conducted for NAHB’s Housing Trends Report by Morning Consult. Of this pool of prospective home buyers, 61% would be buying a home for the first time.
In the first quarter of 2018, 17% of the poll’s respondents planned to purchase a new home within the year, and of that number 45% were first time buyers. In the fourth quarter of 2017, 24% of respondents planned to purchase a new home in the next year, and of that number 60% were first time buyers.
More granular findings for the second quarter of 2018 show that Millennials were the likeliest generation to have plans to buy a home in the next 12 months (22%) while Seniors were the least likely (3%).
For more than two out of three Millennials (77%) planning a home purchase, this is their first attempt at becoming home owners. Among Gen X’ers and Boomers, the share is 49% and 34%, respectively.Read More