Most Americans either already own their homes or plan on buying one in the next 10 years, a Gallup Poll said a few weeks ago. The American dream of home ownership is still very strong.
Home Ownership Still the Dream
56% of American own a home and plan to continue to own their home for a foreseeable future. 25% of non-homeowners plan to buy a home in the next ten years. Only 11% of those polled said they do not plan to buy a home in the foreseeable future. 3% polled say they plan to sell and rent within 10 years.
Younger Americans Likely to Buy
Nearly 7 in 10 (68%) Americansaged 18 to 29 currently do not own a home, but plan on buying one within the next 10 years. Coupling this with the 21% of younger Americans who say they already are homeowners leaves few adults under 30 who say they don’t own a home and have no plans on buying one. There will also be a continuous stream of young people entering the 18 and older segment of the population going forward.
Are you a first time homebuyer? Talk to me about a free, no obligation mortgage pre-approval. Pre-approvals are essential to the home shopping process!