Majority Of Americans Say They’ll Buy Soon

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A majority of Americans say they’re likely to buy a house in the next five years, according to a recent survey. The survey, conducted by Pollara, found 52 percent of respondents thinking about buying a house in the near future. It also found that Americans say they are willing to spend $296,000 on their dream house and the vast majority plan to get pre-approved for a loan before starting their home search. Mirroring a number of recent polls and industry forecasts showing growing confidence in the housing market among consumers, the survey is yet another indication that interest among potential home buyers continues to climb. Americans have a renewed interest in homeownership and are being spurred to action by still-favorable affordability conditions. Also in the report, the vast majority of current homeowners spent under six months searching for a new home and 75 percent said they set a budget before they began looking at houses. Among those, 16 percent went over budget and 13 percent came in under budget. More here.

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