The National Association of Home Builders is showing increased confidence in the US housing market recovery, according to a new study. The housing market has been struggling steadily for years, but could a recovery finally be on the horizon? Have Americans noticed changes in their local housing markets? And how many plan to buy homes within the next few years?
In Ask Your Target Market’s latest survey, 46% of respondents said that they currently own a home. Another 9% said they have owned a home in the past. And 45% said they have never owned a home.
Overall, just 8% of respondents said that they definitely plan to buy a home within the next 5 years. 19% said they will probably buy a home within the next 5 years. 39% said they probably won’t buy a home in the next few years. And 34% said they definitely won’t.
Currently, just 9% of Americans believe the housing market in their area is definitely in recovery mode. 44% said they think their local housing market is somewhat recovering. 41% said they don’t think their local housing market is recovering. But just 7% said they think their local housing market is getting worse. Those who currently own a home were 7% more likely to think that their local housing market is in recovery mode.
As for the future, just 14% of US respondents said they definitely think the US housing market will recover over the next 5 years. 52% said they think it will somewhat recover within that time period. 28% said they think the US housing market probably won’t recover in the next 5 years. And just 6% think it definitely won’t recover in that time period.
You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.
What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.
Results were collected on June 18 via AYTM’s online survey panel.