Whether or not you think now is a good time to buy a house may depend on your age. According to a newly released survey from the National Association of Realtors' consumer website, there's a pretty sizable generational divide in today's market. In fact, among surveyed Americans, 55 percent of Millennials and 40 percent of Gen Z respondents say they think now's a good time to buy, whereas only 32 percent of Gen X and 17 percent of Baby Boomers said the same.
Danielle Hale, the site's chief economist, says Americans are still positive about home buying. “The current market is very different from where it was before the pandemic, but many Americans still have a positive outlook towards achieving the dream of buying a home,” Hale said. “This optimistic lens may shape the way younger shoppers in particular view mortgage rates. Although mortgage rates are up from a year ago, they have declined more than a percentage point from their recent peak. While some home shoppers and sellers are likely holding out for even lower rates, the improvement in affordability as rates fall has already ushered in an uptick in listings and contract signings.”
[Source: PR Newswire]
