Americans Hold on to the Dream of Homeownership
40% of Hopeful Buyers Would Consider Buying if Rates Hit 6% or below and Millennials and Gen Z Are Even More Bullish
SANTA CLARA, Calif., Feb. 21, 2024 /PRNewswire/ — Despite a challenging few years in the housing market, the American dream of owning a home is still alive. According to a recent Realtor.com® survey, a majority of Americans think the dream is still achievable, though for many prospective buyers, it hinges on an interest rate drop to less than 6%. Though the sentiment is generally shared across generations, for Millennials and Gen Z, there may be a little more flexibility, with nearly half (47%) of Millennials and 37% of Gen Z respondents stating they’d still buy a home if rates went above 8%.