Americans Continue to Place Homeownership on Hold
Homeownership Postponed
According to the National Association of Home Builders’ Q4 2021 Housing Trends Report (HTR), the share of U.S. adults planning a home purchase within the next 12 months has fallen for the second consecutive quarter. The share fell from 17% in Q2, to 16% in Q3, to 15% in Q4. The HTR sees more Americans postponing their homeownership plans due to higher home prices and low housing availability — relative to demand.
The HTR reveals that the share of prospective buyers who are considering the purchase of their first home dropped for the first time since mid-2020. In Q4 2021, the total fell to 63% — down from 65% in Q3 2021. The HTR also noted that over half of prospective buyers in every region are 1st-timers. Between Q3 and Q4 2021, the share rose from 65% to 70% in the Northeast but declined from 69% to 60% in the Midwest.
Across generations, buying plans dropped significantly among Gen X’ers, from 18% to 12%, during the year.
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