Global Real Estate Adviser Jenna Stauffffer drops her outlook for the housing market in 2025 during an appearance on ‘Morning Maria.’
If you think of owning a home as part of the American dream, you’re not alone. A survey recently released by Realtor.com showed many American adults hold that belief.
The percentage of older adults who are still considering home ownership to be part of the American dream stands at 75%, according to a Realtor.com Survey.
The survey involved about 2,200 adults in the US and took place online Nov. 7-8.
Homes in the Issaquah Highlands Area of Issaquah, Washington on Tuesday, April 16, 2024. (Photographer: David Ryder / Bloomberg via Getty Images / Getty Images)
The association between the home and the American Dream was most recognized among baby boomers, by 84%, in the area of real estate.
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Generation X, Millenials and generation z “Admit but to a lesser degree” that owning a home remains an important part of the American dream. The survey found 74%, 69% and 67% of those generations respectively reported holding that belief, Realtor.com said.
Most Americans intend to buy their own home in their lifetime. About two-thirds of respondents reported that the feat was a “Life Goal,” the survey said.
According to the Federal Reserve Bank of St. Louis, the rate of the US Home Ocean went to 65.6% as of the third quarter of 2024.
Architectural rings can be a great way to find the perfect home, but there are risks to consider. (Stock / istock)
In a Real.com article, half of American adults end up owning a home to “find long-term wealth.”
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Among generations, Millennials report that they are devoted to that believer, by 53%, per survey. The same share of African Americans – 52% – do.
“Home, and land, ownership has been part of the American dream for generations, and while the current climate of money and home ownership makes ownership more challenging, many Americans still see owning a home as the keystone to achieving the American dream and building long-term wealth for themselves and their families,” realtor.com Mont President of Research and Insights Laura Eddy said in a statement.
Home for Sale Signal and New House (Stock / istock)
Bullish feelings about the risk of becoming a homeowner was reported by 59% of Americans, according to the survey. Meanwhile, 20% “somewhat” or “strongly” disagree with the idea that it was “accessible.”
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US homes sold for $427,670 in December, marking a 6.3% jump from the same time last year, according to Redfin’s 17th report. More than 1.7 million homes were on the market as of that month.
HomeBuyer wants to “sink by the end of the year because the prices of its partners have jumped,” Redfin said.
Most recently, the average 30-year mortgage averaged 7.04% in the week of Jan. 16, according to Freddie Mac. That marked a 0.11 percent increase from last week.
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