Home Buyers Say They’re Still Waiting

Market uncertainty is scaring away people who don’t own a home, particularly those who are in the 18-34 age group previously most likely to buy, says online real estate service Trulia. More than 70 percent of non-homeowners surveyed say they have no plans to purchase a home in the next year. But the good news is 12 percent of non-homeowners say they expect to buy a home in the next 12 months.

Other key information from the survey includes:

  • 44 percent of those 18-34 year do not own a home right now is because they believe home ownership is too expensive.
  • 41 percent of 35- to 44-year-old respondents polled says they don’t think they can qualify a home loan.
  • 92 percent of homeowners say they don’t plan to move in the next 12 months.
    • 49 percent of homeowners still believe that their home is a great long-term investment.
    • Only 4 percent of non-homeowners said that “Waiting for the new Housing Recovery Act to take effect” was keeping them from home ownership.
    • More than half of all non-homeowners said they still believe home ownership is an important piece of achieving “the American Dream”.
    • Women aged 35-44 in the survey agreed on this sentiment more than men aged 35-44 (66 percent versus 47 percent).
    • Non-homeowners with an annual household income of $50,000 to $75,000 agreed more strongly (78 percent) on a home being central to achieving their personal American Dream than those with an annual household income of under $49,000 or over $75,000 (51 percent and 53 percent, respectively).

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