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