High mortgage rates are causing concern among potential homebuyers, yet millennials show a surprising increase in home buying interest, with a rise from 15% to 23% planning purchases in six months. While one-third of surveyed individuals express delays due to rates, millennials demonstrate a resilient attitude toward homeownership. Gen Z remains cautious, preferring leases over high-rate commitments. Interestingly, baby boomers seem less affected, with 41% stating rates do not deter their buying decisions, indicating a generational split in response to current market conditions.
"Persistently high mortgage rates continue to limit buyer activity," says Hannah Jones, senior economic research analyst at Realtor.com. "One-third of respondents indicated that they have delayed a home purchase due to still-high rates, consistent with sentiment last fall when rates were near current levels."
Even though two-thirds of those surveyed admit mortgage rates have influenced their decision to buy a home, there is a generation that doesn't see it as a drawback.
Collection
[
|
...
]