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3 in 4 Americans report their housing market has cooled

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3 in 4 Americans report their housing market has cooled

Millennial homeowners among most eager to sell before prices fall, signaling more starter homes could enter market, according to ValueInsured’s Modern Homebuyer Survey

Seventy-five percent of Americans believe their local housing market is “cooling off” – among them, 72 percent say they are not surprised – according to results from ValueInsured’s Q4 2018 Modern Homebuyer Survey, released today.

This shift in market perceptions follows five consecutive quarters where majority of Americans believed housing was overheated.  Among states with the most robust home sales activity, 22 percent of residents in California, 19 percent in Colorado, 36 percent in Texas, and 22 percent in Washington say their local market is not cooling.

The ValueInsured Housing Confidence Index registered at 63.0 on a hundred-point scale for all Americans in Q4, down 4.7 points in one year. Homeowners, historically the most confident segment on the Index, produced a score of 71.6 in Q4, the second-lowest level recorded in thirty months.

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Millennials’ View of Home Buying Turns Negative

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Millennials’ View of Home Buying Turns Negative

Millennials’ housing confidence and enthusiasm plummet to record low in latest ValueInsured Modern Homebuyer Survey

​​​​​​​DALLAS, August 15, 2018 – Millennials’ perceived value in buying a home dropped below 50 percent, down significantly from post-Brexit high, according to the latest ValueInsured quarterly Modern Homebuyer Survey

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Housing Confidence Bottoms Out

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Housing Confidence Bottoms Out

High home prices, unaffordability cause confidence in housing health to drop to lowest levels in nine quarters since inception of ValueInsured’s Modern Homebuyer Survey

The desire to own a home remains high, currently at 79 percent among non-homeowners, however; 67 percent believe the American housing market is unhealthy, according to the latest ValueInsured quarterly Modern Homebuyer Survey. In addition, the number of people who believe buying a home today is a secure and smart investment dropped to 52 percent. Despite reports of a strong sellers’ market, the decline in confidence is significant across the board among homeowners and non-homeowners alike.

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The “ideal” down payment

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The “ideal” down payment

According to ValueInsured’s latest quarterly results, 7% of all millennials first-time homebuyers, if given the option to choose, hope to put down zero percent down; another 26% ideally wish to put down 3-5%. In other words, 1 in 3 (33%) believe their ideal down payment is up to 5%. Most cite the eagerness to buy immediately as their motive, and express an understanding that they could potentially be paying a higher interest rate and will pay higher monthly mortgage payment after having a lower down payment commitment. To 1 in 3 next-gen homebuyers, that is considered the ideal trade off.

Confidence Among Homeowners, Homebuyers on Diverging Paths

Confidence Among Homeowners, Homebuyers on Diverging Paths

DALLAS, March 6, 2018 – On the heels of the most recent Case-Shiller report, which again showed home prices on an upswing, ValueInsured’s latest quarterly Modern Homebuyer Survey finds that confidence among current American homeowners has decreased for two consecutive quarters and is starkly juxtaposed by an increase in new homebuyer confidence.

Winter 2018 ValueInsured Modern Homebuyer Survey results next week

Winter 2018 ValueInsured Modern Homebuyer Survey results next week

On the heels of the latest Case-Shiller report which once again showed home prices on an upswing, our latest housing sentiment survey - the quarterly ValueInsured Modern Homebuyer Survey -  indicates homeowners’ and homebuyers’ housing confidence are trending in opposite directions, but the patterns may surprise many.
 

Millennials may be sacrificing privacy + freedom to afford their first home

Millennials may be sacrificing privacy + freedom to afford their first home

This week we have interesting new data on Millennial first-time homeownership that has not been frequently addressed in the press. We all know about Millennials who live in their parents home well into their thirties as byproduct of today’s unaffordable home prices and back-breaking student loan debts. In fact, at last count, 4 in 10 American Millennials now live in their parents’ home, the highest rate in 75 years and 10% higher than a decade ago. In some state, e.g, New Jersey, nearly half (47%) of all Millennials live in their parents’ home at the end of 2016.

It would appear then the ultimate goal for many Millennials would be to own their own home, and to finally obtain their much craved freedom, privacy and autonomy. New data shows this statement may only be half true.

Top 5 reasons Millennials are not buying homes – yet

Top 5 reasons Millennials are not buying homes – yet

Coming out of the last housing crisis – can you believe we’re at the 10-year mark? – an urgent priority for the housing industry was to expand the market by getting more Millennials to buy homes. For the first nine years, that vision has not exactly panned out. Last year, Millennial homeownership rate dropped to the lowest level recorded in over 5 decades. As the economy improved and as Millennials continue to age, earn more, and start their own families, that dismal figure has rebounded to the current 35.3%, but it is still near 10 percent points lower than a decade ago.  Here are reasons we found based on our latest research.

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