Feb 23

Consumers Optimistic About Housing

Consumers Optimistic About Housing

More than 50% of prospective buyers recently surveyed say they feel optimistic about the housing market—despite headlines over rapidly rising costs that can feel discouraging. The new survey from the real estate tech company OJO Labs shows that many house hunters remain hopeful that the next three months will offer a good opportunity to buy a home, as buyers feel more urgency with the threat of rising mortgage rates.

Consumers have become more hopeful about their homebuying chances than they were last month. Slightly fewer than half of all respondents expressed a positive sentiment about homebuying the previous month, according to the OJO Labs survey. This latest survey was conducted between Jan. 25 and Feb. 14 with more than 900 respondents.

A bar chart showing whether respondents felt the next three months will be a good time to buy a home.

A separate survey by NerdWallet, released in January, showed 45% of millennials are optimistic about buying a home in 2022. They showed more optimism than Gen Z (35%), Gen X (24%), and baby boomers (31%). Millennials cited personal finances, savings, and higher incomes as reasons for their optimism. Source: “More Consumers Still Feel Positive About Buying in the Next Three Months,” OJO Labs (Feb. 17, 2022) and “Home Buyers Still Hopeful, Would-Be Sellers Less So,” NerdWallet (Jan. 25, 2022)

©National Association of REALTORS®
Reprinted with permission

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