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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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August sales fall just short of 2016 record

August home sales were strong across the Empire State, setting the second-highest total on record for the month at 14,174 units. The statewide median sales price growth trend continued in August, posting a 6.9-percent increase compared to August 2016. Click here to read more.

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