8 in 10 Buyers Report Homeownership is part of their American Dream

According to the National Association of REALTORS® (NAR) eight in 10 aspiring buyers reported that homeownership is part of their American Dream in the last quarter of 2017. Are you one of them? Perhaps you are a home owner but are curious about the millennial buyers entering the housing market? This nifty infographic courtesy of NAR breaks down the aspiring home buyers profile for 2018, giving quick insights into increasing affordability and ownership concerns.

Highlights from NAR's report include:

• Of the U.S. consumer households that were surveyed each month in 2017, 63 percent of respondents were homeowners, 28 percent were renters, and 9 percent lived with someone else.
• Of the non-owners, 46 percent were 34 years or under, 57 percent make an income of under $50,000, and 41 percent live in suburban areas.
• For both homeowners and non-homeowners alike, homeownership is strongly considered a part of the American Dream.
• For non-owners, eight in 10 reported that homeownership is part of their American Dream in Q4. For owners, nine in 10 believe it is part of their American Dream.

You can find the full report and more in-depth analysis here. For a look at generational trends, NAR's Home Buyer and Seller Generational Trends Report 2018 indicates a few interesting shifts. This includes one consistent finding for the last several years stating: 

"Buyers 37 years and younger (Millennials/Gen Yers) is the largest share of home buyers at 36 percent. Sixty-five percent of these buyers were also first-time home buyers. The largest cohort in America is growing up and becoming more traditional in their buying habits. This year’s report saw an increased share who purchased in suburban locations and who purchased detached single- family homes. Forty-eight percent of buyers 37 years and younger now have children under the age of 18 in their home, 66 percent are married couples, and 15 percent are unmarried couples (the largest share of all generations)."

Are you as interested in the numbers as I am? Let me know in the comments.

​Cheers, 

AP

Amy Puchaty is a luxury real estate writer and communications specialist whose marketing campaigns and copywriting work have appeared in numerous print and digital publications including The Wall Street Journal, Architectural Digest, Inman News, The Denver Post, and Dallas Business Journal. Why Amy Puchaty? Because it’s selling season. Follow Amy at www.amypuchaty.com #AtHomeWithAmy #AmyPuchaty #LuxuryRealEstateWriter