New research from the National Association of Home Builders tracks buyer perceptions of affordability on the housing market. Their findings suggest that a small minority of buyers can afford the majority of homes for sale.
As of first quarter 2018, 83 percent of the homebuyers polled said they can afford fewer than half of the homes for-sale in their local housing markets. This is an increase of four percent from the last quarter of 2017, when 79 percent echoed that sentiment in the NAHB study. Generationally, 86 percent of Millennial buyers said they could afford fewer than half of the homes for sale in their markets at the start of this year.
The Housing Trends Report (HTR) is a new research product created by NAHB’s Economics team to track prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets. Results are based on national polls conducted by Morning Consult. This is the third in a series of posts highlighting results for the first quarter of 2018.
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