Americans Mixed On Buying A Home In 2020

Americans Mixed On Buying A Home In 2020

August 20, 2020
New home on the market.

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.

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