Approximately six out of ten Americans think that the moment to buy a house is “right now .” In addition, a poll of 1,000 renters and 1,000 homeowners looked at how they perceive the property market today, 55% of all participants stated that inflation had increased their desire to buy a home.
Almost half of the home buyers think the property market is getting hotter
While 30% believe that the housing industry will improve over the course of the next year, 43% find it “extremely” troubling, with 24% believing that it will deteriorate. Despite claims in the media indicating the “housing boom” is ending, 45% of respondents think the property market is only becoming hotter.
Only 10% of respondents claim that the real estate boom is genuinely winding down, while a third predict that this property trend will continue. Interestingly, 43% believe that the property market will eventually revert to its pre-pandemic state.
Around 47% of respondents to the OnePoll research, which was carried out on multi-channel financial technology mortgage provider Lowers behalf’, said they planned to purchase a home within the next 12 months. Of that category, 74% stated it might be their first attempt to buy a home, whereas 26% qualified as current homeowners who intended to purchase another one.
Most homebuyers wait for prices to cool off before buying
Simple motives can be given for purchasing a house: Half of those who responded to the study wish to enter the property market before property appreciation increases even further, and 51% consider property as a potential investment chance to reach financial independence. As a result of being dissatisfied with their present living arrangement, 41% of renters and homeowners aspire to purchase their first house or another piece of real estate.
CEO and Co-founder of Lower Dan Synder said, “Homeowners have gained tens of thousands in equity over the past few years. This is money renters have left on the table. A lot of people are waiting until prices cool off, but the reality is, they’ll just slowdown from their record-breaking pace. Now is the time to buy before appreciation continues to climb.”
