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Americans Mixed On Buying A Home In 2020

Aug 20, 2020
New home on the market.
Director of Events

Despite record unemployment, 30% of Americans say 2020 is the ideal time to purchase a home, according to a report from The Simple Dollar. Of the 30%, 68% attributed their answer to record-low mortgage interest rates. 

On the other hand, 31% of survey respondents strongly disagreed with the statement that 2020 is an ideal time for them to buy a home. The report from The Simple Dollar states that 51% of homeowners and renters disagree with the statement that 2020 is an ideal time to buy a home or property. Of the 51% who disagree, 41% cited the economy and market uncertainty as their reasoning.

"At 41%, concern about economic and market uncertainty was the top reason study participants disagreed with 2020 being an ideal time to purchase a home or property," according to the report.

"Job loss and income reduction were cited by 25% of the survey participants who did not think that 2020 was the ideal time to buy a home. High property values were cited by 23% of study participants who disagreed, and 21% cited not having enough for a down payment as making a property purchase in 2020 less than ideal for them."

Read more from The Simple Dollar's survey.

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Aug 20, 2020
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