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Desire for Homeownership at its Highest Level Since the Pandemic Began

Coronavirus Resources and Information

Desire for Homeownership at its Highest Level Since the Pandemic Began

April 27, 2021
Couple looking at house
Photo: Kalim |

The National Association of Home Builders’ quarter one Housing Trends Report found 16% of American adults are considering a home purchase within the next year. It shows the desire for homeownership amid the pandemic has only increased, notes NAHB. The latest finding marks a 1% increase from last quarter and a 6% increase since quarter one of 2020. The year-over-year increase is now the third and highest yearly gain in the report’s history. Of those wishing to purchase in the next 12 months, 62% are first-time buyers, the same share as one year prior.

Millennials are the generation with the fastest growth in adults planning a home purchase: the share of this group with plans to buy a home in the next 12 months doubled from 16% to 32% in the year ended in Qtr1’21, while other generations saw more tepid growth.

Similarly, the Northeast is the region of the country with the fastest growth in adults planning a home purchase: the share more than doubled from 8% to 20% in the year ended in Qtr1’21. The other three regions also saw growth (although less dramatic) in the share of adults planning a home purchase during this period.

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