Home purchasing rates decline – Floor Covering News

rates for home purchaseWashington DC – The proportion of adults planning to buy a home within 12 months has declined for two consecutive quarters, according to data from 17% in the second quarter of 2021 to 16% and 15%, respectively, in the third and fourth quarters of the year. housing trend report from the National Association of Home Builder (NAHB).

The downward trend provides evidence that higher home prices and low housing availability (relative to demand) are causing some Americans to delay their home buying plans, the NAHB said.

Meanwhile, the proportion of these prospective buyers buying a home for the first time since mid-2020 has fallen from 65% in the third quarter to 63% in the fourth quarter of 2021.

to buy

Geographically, the proportion of adults planning to buy a home was lower in the fourth quarter in every region except the Midwest, which held steady at 13%. According to the NAHB, generation-to-generation buying plans dropped significantly under gen x — from 18% to 12%.

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