Millennials Most Likely Generation to Consider Buying a Home Within the Next Year

Economics
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Only 12% of adults are considering the purchase of a home within the next 12 months, according to NAHB’s Housing Trends Report for the third quarter of 2019. This share of prospective home buyers is essentially unchanged from where it stood a year earlier, at 13%. For the majority of these buyers (60%), this will be their first time buying a home, about the same share as a year earlier (61%). Millennials (ages 23 to 38) are the most likely generation to be making plans to purchase a home within a year (20%). They are followed by Gen X (ages 39 to 54) at 12% and Gen Z (ages 18 to 22) at 11%. In contrast, only 6% of boomers (ages 55 to 73) reported plans to purchase a home. The Housing Trends Report (HTR) is a research product created by the NAHB Economics team with the goal of measuring prospective home buyers' perceptions about the availability and affordability of homes for-sale in their markets. The HTR is produced quarterly to track changes in buyers' perceptions over time. NAHB economist Rose Quint provides more analysis in this Eye on Housing blog post.

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