A national online survey revealed that despite uncertainties in the housing market, 52% of prospective homebuyers believe conditions are improving. Notably, 75% expect falling home prices and mortgage rates. The survey emphasized trends among Generation Z, with many compromising and finding creative means of achieving homeownership, including taking extra jobs and purchasing homes with siblings. Furthermore, a growing number of Gen Z buyers are considering financial assistance from family for down payments. This reflects a persistent belief in the long-term value of homeownership, even amidst challenges.
Despite high uncertainty in the homebuying market, 52% of prospective buyers feel optimistic, believing conditions are improving compared to the previous year. However, many are waiting.
Three out of four prospective buyers expect home prices and mortgage rates to decrease, indicating a cautious optimism that has grown since last year, reflecting ongoing market concerns.
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