New research from the National Association of Home Builders:
- Percent of Americans Considering Buying a Home: Q2 2019 = 12% | Q2 2020 = 11%
- First-time Prospective Buyers: Q2 2019 = 58% | Q2 2020 = 50%
- Millennials Likely to Want to Buy a Home: Q2 2019 = 17% | Q2 2020 = 19%
- Boomers Likely to Want to Buy a Home: Q2 2019 = 7% | Q2 2020 = 5%
The number of Americans contemplating purchasing a home in the second quarter of 2020 is nearly the same as 2019’s second quarter, according to NAHB’s Housing Trends Report. In the second quarter of 2020, Millennials are the generation most likely to want to buy a home, even slightly higher than a year earlier. Boomers, on the other hand, are the least likely, with the share planning a home purchase falling by 2%. Across regions, the share of respondents who are prospective home buyers is unchanged in the Northeast (10%) and South (12%), essentially flat in the West (13%), and just slightly lower in the Midwest (down from 11% to 9%).
At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously. Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.