The latest National Association of Home Builders (NAHB) Housing Trends Report (HTR) reveals that number of Americans who said they are considering the purchase of a home in the next 12 months was 11% in second quarter of 2020. When compared to the second quarter of 2019, the difference is just -1%. An indication that the COVID-19 pandemic has not fundamentally changed American’s desire to purchase and own a home. The share of first-time home buyers in second quarter of 2020 is also similar to those interested in 2019. The HTR is reporting that Millennials are the generation most interested in purchasing a home. While Boomers, on the other hand, are least likely. Of the four sales regions, the West led the way followed closely by the South and Northeast, with the Midwest trailing the pack. Of note many of the buyers in the West and South would be first-time buyers according the reports data.
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Home Purchase Plans Have Not Significantly Changed Because of COVID-19