Your October HOME Newsletter Your October HOME Newsletter
POSITIVE SIGNS FOR HOMEOWNERSHIP
American homeowners remain upbeat about home ownership, and many renters are warming up to the idea of owning their own homes, according to a recent survey by the NATIONAL ASSOCIATION OF REALTORS® (NAR) conducted by Harris Interactive. 87% of homeowners and 64% of renters agree that owning a home provides a healthy, stable environment for raising a family. 77% of homeowners and 55% of renters believe that home ownership helps them meet long-term financial goals, while 70% of homeowners and 48% of renters believe it helps them realize the American Dream. The majority of homeowners (95%) and 72% of renters say that in the long run, it makes more sense to own a home rather than rent. 88% of current home owners say their ownership experience has been positive or very positive, while only 51% of renters have had positive experiences with renting. More than six out of 10 renters say they are at least somewhat likely to purchase a home in the future, and 24% are extremely likely to do so. Nearly three-fourths of young adult renters (74%) say they are likely to buy a home at some point in the future, while 43% of renters plan to purchase a home in the next three to five years. Many renters cite several obstacles to homeownership, however, such as a lack of money for a down payment and closing costs, finding a home that is affordable and job security.
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Julie Zappone, REALTOR 