The latest Mortgage Marvel survey revealed that young Americans are interested in homebuying this year, and men are more likely to show interest than women.
Even though mortgage rates increasing, it is not stopping young Americans from expressing an interest in homebuying this year.
According to a recent Mortgage Marvel survey, among Americans from ages 18 to 34, a total of 41 percent displayed an interest in homebuying. And among all age groups, 30 percent of Americans expressed interest.
“It’s heartening that young Americans haven’t let go of the American dream of home ownership,” Rick Allen, chief operating officer of Mortgage Marvel, said in a press release. “It is important, however, that anyone looking to buy a home is very clear about what it takes, knows the impact of monthly mortgage payments on current finances and has access to lenders who can provide the best terms possible.”
Here are some other interesting statistics from the survey:
- 20 percent of tax filers who are separated, divorced or widowed have or had an interest in homebuying this year, which is significantly less than those who are married (31 percent) or single and never married (38 percent).
- Households with children under 18 years old are significantly more likely than households without to indicate they can’t afford a home this year (24 percent versus 14 percent, respectively).
- Households with children under 18 years old are also twice as likely as those without to indicate that, after seeing their taxes, they know their finances are stressed but still believe they can manage buying a home this year (11 percent and 5 percent, respectively).
- 5 percent of people who have or had plans to buy a home this year indicated that they can’t afford to this year after reviewing their taxes and finances.
Interestingly, the survey revealed that men are more likely to be interested in homebuying than women. The infographic below reveals statistics from the survey. Click on the bubbles to view the different categories, and move your mouse on the bars to view the numbers.