A survey by Zillow and Pulsenomics found that 5.2 million renters plan to buy homes next year, an almost 25-percent boost from the same time last year.
Though homeowners remain more confident overall than renters, renter confidence is growing faster than homeowners' confidence in 14 of the 20 metro areas surveyed. (Image: Meditations/Pixabay)
Respondents from San Jose, Miami, and San Francisco were most confident about the housing market. The markets where respondents had the biggest year-over-year increase in confidence were Dallas, Detroit, and St. Louis.
But Zillow Chief Economist Stan Humphries cautions that wanting to buy is not the same as being able to.
“Saving a down payment, qualifying for a mortgage, and finding an affordable home to buy all remain formidable challenges for many,” he says.