Americans Are Ready to Spend Money…On Housing

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Spend MoneyAmericans ready to spend money…especially on housing
Source: HousingWire

As a positive sign for the U.S. economy and housing conditions, Americans are reportedly more optimistic about buying a home, according to the PulteGroup Home Index survey. Overall attitudes toward buying a home is trending positive, and Margaret Gramann, senior vice president of sales for PulteGroup, Inc., commented, “For the first time in years, Americans have a growing sense of optimism that the housing market is improving, and that these positive changes may be sustainable.”

Making sense of the story

  • The survey found that 67 percent of people say they plan on purchasing a home, and of that amount, 32 percent are looking to buy within the next two years.
  • Twenty-one percent would move up their buying timeline if they were able to sell their current home at a higher price point/break their lease without penalty.
  • The results indicate that 57 percent of adults think now is a good or excellent time to purchase items they want or need, especially when it comes to entering the housing market.
  • Millennials and move-up buyers represent the most engaged consumer segments, 85 percent and 71 percent, respectively, intending to purchase a home in the future.
  • As for baby boomer trends, 50 percent of those aged 55 and older are looking to purchase a home in the future.
  • Seventy percent of home shoppers plan to spend more or as much money on their next home, and 64 percent prefer to spend more on a home that’s move-in ready rather than spend less and renovate.

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