More Than Half of Americans Likely to Buy Homes in Next Five Years

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A majority of buyers also plan to get preapproved before seriously searching for a home

August 13, 2015
More Than Half of Americans Likely to Buy Homes in Next Five Years

The 2015 BMO Harris Bank Homebuyers Report revealed that 52 percent of Americans say they are likely to buy a home in the next five years.

The price the survey’s respondents will pay for a home averages about $296,000, and the average down payment they will pay is 21 percent.

Another report, conducted by Pollara, found that among likely buyers, 78 percent plan to get preapproved before seriously searching for a home.

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