Half of non-homeowners expect to buy homes in 5 years

By Jeffrey M. Jones | Gallup

An additional 20% expect to buy a home in the next 10 years

One in five homeowners plan to sell in the next five years

Roughly half of U.S. adults who currently do not own a home, 49%, say they will buy a home within the next five years, up slightly from recent years. An additional 20% say they plan to purchase a home in the next 10 years, leaving just 28% who expect to remain renters or in other living arrangements for the foreseeable future.

Related: This satirical video about millennial home buyers is all too real

The results are based on interviews with 502 non-homeowners in a March 9-29 Gallup poll. They indicate that a majority of this group plans to buy homes in the near future, including 10% over the next 12 months, 39% in the next five years and 20% within 10 years.

The U.S. housing market has largely recovered from the severe downturn that occurred after the housing bubble burst in the mid-2000s. Gallup recently reported that 61% of Americans expect housing prices in their area to increase in the coming year, the highest percentage making that prediction since 2005.

Continued:

Share this!

Additional Articles

Top master-planned communities for 2024

By AZ Big Media Here are the Top 10 master-planned communities in Arizona, based on public voting for the 2024 edition of Ranking Arizona, the state’s biggest and most comprehensive business opinion poll. Ranking Arizona

Read More »
News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.