A new housing trend analysis revealed 12 percent of adults are expected to consider a house purchase in 2020.
The National Association of Home Builders Housing Trends Report for the third quarter of 2019 reports the percentage of prospective home buyers for the upcoming year is comparable to last year’s projections of 13 percent.
Sixty percent of these home buyers will be purchasing a home for the first time, according to the report. This is essentially the same as last year’s estimate of 61 percent.
Of the nation’s three generations – Gen Z, Millennials, Gen X, and Baby Boomers – Millennials are most likely to be making plans to purchase a home within a year at 20 percent; followed by Gen X at 12 percent; and Gen Z at 11 percent. Only 6 percent of Baby Boomers oomers (ages 55 to 73) reported plans to purchase a home, according to NAHB.
Created by the NAHB Economics team, the Housing Trends Report is a research product with the goal of measuring prospective home buyers’ perceptions about the availability and affordability of homes for sale in their markets.
For the full Housing Trends Report, visit NAHB online.