NAHB survey says homebuying expectations fall
A poll conducted by the National Association of Home Builders (NAHB) during the second quarter 2019 revealed that only 12% of adults are prospective home buyers and are planning to buy a home in the next year.
After asking prospective buyers about their expectations for housing availability going forward, just 20% expect the search for a home to become easier in the months ahead. This is a slight drop from 21% who had the same expectation a year ago.
The NAHB said about 67% expect availability to be harder or remain unchanged, also about the same as a year earlier (68%).
Except for seniors (10%), about 20% of buyers in every generation expect the search for a home to get easier in the near future. Geographically, only 17% to 22% of buyers in each of the four Census regions (Northeast, South, Midwest, West) expect easier homebuying conditions going forward.
In the second quarter of 2019, 27% of buyers reported seeing more such homes on the market compared to three months earlier, a slight drop from the 29% reporting increases a year earlier. Meanwhile, the share of buyers who perceive fewer or the same number of homes for-sale fell slightly from 61% to 59% during this period.
The NAHB also asked potential buyers about the inventory of housing available in their markets and whether the number of for-sale homes, that they like and can afford, was changing.
Across generations, 27% of Millennials, Gen X, and Boomer buyers report seeing more homes they like and can afford on the market, compared to a lower 23% among seniors. Regionally, buyers in the South are most likely to report improving availability (30%), while those in the Northeast are the least likely (22%).
The NAHB’s findings were derived from NAHB’s Housing Trends Report HTR) for the second quarter of 2019.
After asking prospective buyers about their expectations for housing availability going forward, just 20% expect the search for a home to become easier in the months ahead. This is a slight drop from 21% who had the same expectation a year ago.
The NAHB said about 67% expect availability to be harder or remain unchanged, also about the same as a year earlier (68%).
Except for seniors (10%), about 20% of buyers in every generation expect the search for a home to get easier in the near future. Geographically, only 17% to 22% of buyers in each of the four Census regions (Northeast, South, Midwest, West) expect easier homebuying conditions going forward.In the second quarter of 2019, 27% of buyers reported seeing more such homes on the market compared to three months earlier, a slight drop from the 29% reporting increases a year earlier. Meanwhile, the share of buyers who perceive fewer or the same number of homes for-sale fell slightly from 61% to 59% during this period.
The NAHB also asked potential buyers about the inventory of housing available in their markets and whether the number of for-sale homes, that they like and can afford, was changing.
Across generations, 27% of Millennials, Gen X, and Boomer buyers report seeing more homes they like and can afford on the market, compared to a lower 23% among seniors. Regionally, buyers in the South are most likely to report improving availability (30%), while those in the Northeast are the least likely (22%).
The NAHB’s findings were derived from NAHB’s Housing Trends Report HTR) for the second quarter of 2019.