Fewer Americans plan to buy a home anytime soon amid affordability squeeze
A record-low 25% of non-homeowners in the US expect to buy a home within the next five years, down from 49% in the last decade, according to Gallup. The decline is most pronounced among younger adults, with just 29% of those aged 18-34 planning to buy a home in the next five years.
The share of Americans who don't own a home and expect to buy one within the next five years has hit a record low of 25%, according to Gallup. This is down from 30% last year and 49% in the last decade. The decline is most pronounced among younger adults, with just 29% of those aged 18-34 planning to buy a home in the next five years, down from 57% a decade ago. Gallup's polling showed that 67% of Americans think it's a bad time to buy a house, with Republicans more likely than Democrats to say it's a good time. The median existing-home sales price hit a March record of $408,800, marking a 1.4% annual increase and the 33rd consecutive month of year-over-year price increases. The housing market varies by region, with some areas experiencing a buyer's market and others a seller's market.
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