From the last quarter of 2017 to the first quarter of 2018, the number of individuals planning to buy a home within the next 12 months decreased, finds a new quarterly report from the National Association of Home Builders.
Millennials were said to be the generation most likely to plan on buying within the next 12 months in Q1 2018. Overall, 17 percent of poll respondents said they were planning to buy by Q1 2019, and 45 percent of those individuals would be first-time homebuyers, per NAHB data. About 45 percent of aspiring homebuyers are hoping to buy an existing home, and 13 percent are looking specifically for a newly-built home.
The Housing Trends Report (HTR) is a new research product created by the NAHB Economics team with the goal of measuring prospective homebuyers’ perceptions about the availability and affordability of homes for-sale in their markets. The HTR will be released quarterly in order to track changes in buyers’ perceptions over time. All data are derived from national polls of representative samples of American adults conducted for NAHB by Morning Consult.
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