Currently Reading

More Prospective Buyers Turn Active With Millennials Leading the Trend

Advertisement
Market Data + Trends

More Prospective Buyers Turn Active With Millennials Leading the Trend


May 10, 2021
Handing over house key
Photo: kwanchaift | stock.adobe.com

Prospective homebuyers are quickly turning into active buyers this year, hoping to take advantage of low mortgage rates and snag homes with more space. The National Association of Home Builders found that of the 16% of Americans considering a future home purchase in the first quarter of 2021, 63% have turned into active buyers. Last year, 49% of prospective buyers from the first quarter turned active. This marks the fifth consecutive year of annual gains in the share of prospective buyers turning active. NAHB says this is likely due to buyers wanting to take advantage of low mortgage rates, desire for more space, and desire to move to the suburbs. 

Millennials are the most likely generation to have moved on from just planning a home purchase to actively searching for a home to buy: 73% of this generation’s prospective buyers were already active buyers in Qtr1’21, up from 54% a year earlier. In contrast, the share rose only moderately among Gen Z and Gen X buyers, and not at all among Boomers.

Geographically, larger shares of prospective buyers in every region are actively trying to find a home to buy than a year ago, but the increase is most notorious in the Northeast (56% to 74%) and the West (51% to 69%).

Read More
 

Related Stories

Housing Markets

Metros With the Highest Home Value Growth

Homeownership provides buyers with equity and a long-term investment that could have a great payoff when it comes time to sell, as long as they’re…

Market Data + Trends

Here’s Where Vacation Home Sales Boomed the Most

Sales for vacation homes increased 16.4% in 2020 as many Americans worked remotely and fled high-density areas for more scenic lower-density areas…

Built for Rent

Single-Family Rents Experience Highest Increases in 15 Years

With home prices reaching new heights, demand for single-family rentals is booming, pushing rental prices up with it. Rent for single-family homes…

Advertisement
Advertisement

More in Category




Advertisement
Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.