The infographic below takes a look at consumer opinions about the real estate market in the first quarter of 2016.
Here are some of the highlights from the report:
- Seventy-five percent of people believe now is a good time to buy a home. Forty-four percent believe that strongly.
- Not surprisingly, with rapid home price acceleration, those who are currently renting or living with someone else, those who are under 34 years of age, and those who live in urban areas are less confident now is a good time to buy, however even among those groups the majority do feel now is a good time to buy a home.
- Four in five people who currently own a home, those over 65 years of age, those with incomes over $50,000 and those in the Midwest believe now is a good time to buy a home.
- More than one-third of buyers of all ages would prefer to live in a close-in suburb. For those who are 55 to 64, rural settings are also attractive.
- Younger respondents and those who are renters and live with someone else are more likely than others to consider buying in an urban area.
Information provided by the National Association of Realtors
