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NAR HOME survey finds desire to buy strong despite affordability concerns

Dec 17, 2015
Nearly all young renters eventually want to buy a home and a convincing majority still view homeownership as part of their American Dream, according to a new quarterly consumer survey released by the National Association of REALTORS (NAR). NAR’s inaugural Housing Opportunities and Market Experience (HOME) survey tracks topical real estate trends including whether or not it’s a good time to buy or sell a home, and expectations and experiences in the mortgage market. 
 
The HOME survey data reveals that an overwhelming majority of current renters who are 34 years of age or younger want to own a home in the future (94 percent). Overall, 83 percent of polled renters have a desire to own, and 77 percent believe homeownership is part of their American Dream. 
 
For more information on the HOME survey, click here.
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New York first quarter statewide home sales strong 
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With 25,192 closed sales across the Empire state in the first quarter, the housing market posted a strong start to 2018, even as it fell short of 2017’s record. The first quarter 2018 statewide median sales price of $260,000 represented an increase of 7.4 percent from a year ago. Click here to read more.

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