Page 25 - BB_June_2019
P. 25
a home before. In comparison, a year earlier, 54% of
buyers were first-timers.
The intention to buy is inversely related to age:
whereas 20% of Millennials have plans to purchase
a home in the next year, only 15% of Gen X’ers, 7%
13% of Adults Are of Boomers, and 3% Seniors have the same plans.
Geographically, respondents in the South are slightly
Planning a Home more likely to be planning a home purchase (16%),
Purchase in the than those in other regions: Northeast (13%), West
(13%), and Midwest (11%).
Next 12 Months Most of the 20% of Millennials planning a home
purchase are first-time home buyers (77 percent).
In the first quarter of 2019, 13% of adults reported Among prospective Gen X and Boomer buyers, 56
plans to purchase a home within a year. That is just percent and 23 percent, respectively, would be buying
slightly below where the share stood a year earlier, a home for the first time. Geographically, a majority of
at 17%. The decline marks the second consecutive those planning a home purchase in each of the four
year-over-year drop in the share of adults planning regions are first-time buyers, led by the Northeast (67%).
to buy a home, providing further evidence that the In terms of the type of home these prospective
deterioration in affordability is having an impact on home buyers are interested in, 41% are looking to buy
people’s homeownership plans. an existing home and 22% a newly-built home. The
Additional findings from the latest Housing Trends remaining 38% would buy either a new or existing
Report (HTR) show that in the first quarter of 2019, home.
60% of prospective home buyers had never owned NAHB MAY 2019
25
JUNE 2019 | GREATER SAN ANTONIO BUILDERS ASSOCIATION
