Skip to main content

Homebuying Optimism Down in New NAR Survey

Phil Hall
Dec 18, 2017
A new study of aspiring Millennial homeowners finds a great desire by this youthful demographic to own property, if only they can overcome financial obstacles

Fewer people believe this is the right time to buy or sell a home, according the National Association of Realtors’ fourth quarter Housing Opportunities and Market Experience (HOME) survey.
 
NAR’s survey found 60 percent of renters believed now is a good time for home buying, down from 62 percent in the third quarter and down from 57 percent one year ago. Fewer respondents were confident about their financial situation: 59.1 percent predicted their fiscal health will be better in six months, down from 62 percent in the previous quarter and 59.8 percent one year earlier. Fifty-two percent households in the fourth quarter believed the economy is improving, compared to 57 percent in the third quarter and 54 percent one year ago.
 
“The trifecta of faster economic expansion, robust hiring and low mortgage rates should be generating a surge in optimism and home sales as 2017 winds down,” said NAR Chief Economist Lawrence Yun. “Sadly, this is not the case. While overall demand remains high, it is not translating to meaningful sales gains. Too many prospective first-time buyers see few options within their budget and home prices that are rising much faster than their incomes. Until we start seeing a steady increase in new and existing inventory, sales will fail to deliver on their full potential and many would-be first-time buyers will be forced to continue renting.” 

 
Published
Dec 18, 2017
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021
Interfirst Mortgage Launches ONE, Backed By Non-Owner Occupied Properties

ONE is a unique product built on a single interest rate with no adjustments and qualifies off the cash flow of the rental property.

Industry News
Jul 16, 2021
Global Digital Lending Market Projected To Reach $27B By 2028

The Global Digital Lending Platform Market was valued at $7.14 billion in 2020 and is projected to reach $27.07 billion by 2028.

Analysis and Data
Jul 14, 2021