Many non-owners—those renting or living with someone else—are eager to buy a home. But their current financial situation is what is mostly holding them back.
The newly released “2019 Profile of Buyers and Sellers” report contained a new section this year, including a survey about non-owners and their views on home ownership. NAR released the report during the 2019 REALTORS® Conference & Expo in San Francisco this week.
But the main reason they aren’t buying yet is because they can’t afford to make the jump into ownership. “Making the largest financial purchase in one’s life relies on the financial strength to do so,” the report notes. Seventy-five percent of non-owners surveyed say they believe home ownership is part of the American dream. Eighty-one percent of non-owners say they want to own a home in the future.
Source: National Association of REALTORS®’