{"id":388,"date":"2022-05-09T14:41:51","date_gmt":"2022-05-09T14:41:51","guid":{"rendered":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/2022\/05\/09\/is-now-a-good-time-to-buy-a-home-most-americans-dont-think-so-and-gallup-says-its-the-first-time-more-than-50-of-people-feel-that-way\/"},"modified":"2022-05-09T14:41:51","modified_gmt":"2022-05-09T14:41:51","slug":"is-now-a-good-time-to-buy-a-home-most-americans-dont-think-so-and-gallup-says-its-the-first-time-more-than-50-of-people-feel-that-way","status":"publish","type":"post","link":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/2022\/05\/09\/is-now-a-good-time-to-buy-a-home-most-americans-dont-think-so-and-gallup-says-its-the-first-time-more-than-50-of-people-feel-that-way\/","title":{"rendered":"Is Now a Good Time To Buy a Home? Most Americans Don\u2019t Think So\u2014and Gallup Says It\u2019s the First Time More Than 50% of People Feel That Way"},"content":{"rendered":"

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Americans still hold onto the dream of homeownership\u2014but rising prices are giving them pause.<\/p>\n

Markets plunged\u00a0<\/a>Thursday, with the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite\u00a0closing down and shedding Wednesday\u2019s gains.<\/p>\n

A new poll from Gallup found that only 30% of Americans believe now is a good time to buy a house. It\u2019s the lowest level on record since Gallup began surveying Americans on this question beginning in 1978, and it\u2019s the first time less than 50% of people across the country thought it was a good time to buy.<\/p>\n

In other words, even at the height of the foreclosure crisis amid the Great Recession at least 50% of Americans thought the time was right to purchase a home. But today, with home prices and mortgage rates rising, people are growing concerned about taking the plunge.<\/p>\n

\u201cAmericans\u2019 much more negative assessments of the current housing market may also keep them from looking to buy, which could lead to a slowdown in home sales\u201d Gallup noted in the report. \u201cIf that happens, it would reduce the demand for houses and could lead to a decline in home values.\u201d<\/p>\n

Gallup\u2019s survey found that attitudes toward buying a home grew more pessimistic in every region of the country and across all subgroups, including among both renters and homeowners. The largest drop-off occurred among suburban residents. Last year, 60% of these residents said it was a good time to buy, versus just 27% in the survey Gallup conducted in April.<\/p>\n

Young adults were the most likely to have a negative outlook on buying a home. Only 25% of people between the ages of 18 and 34 believe the timing is right to become a homeowner.<\/p>\n

Underpinning Americans\u2019 growing pessimism toward the housing market is the expectation that home prices will continue to rise. Gallup reported that 70% of respondents said they expect the average price of homes in their area to increase over the next year, versus 18% who expect them to stay the same and 12% who believe they will drop.<\/p>\n

Despite most people expecting homeownership to be a harder goal to achieve, Americans still tend to view it as the best long-term investment. Nearly half of the people Gallup polled (45%) said that real estate was the best long-term investment, while 24% said stocks and 15% said gold.<\/p>\n

The post Is Now a Good Time To Buy a Home? Most Americans Don\u2019t Think So\u2014and Gallup Says It\u2019s the First Time More Than 50% of People Feel That Way<\/a> appeared first on Real Estate News & Insights | realtor.com\u00ae<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Getty Images Americans still hold onto the dream of homeownership\u2014but rising prices are giving them pause. Markets plunged\u00a0Thursday, with the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite\u00a0closing down and shedding Wednesday\u2019s gains. A new poll from Gallup found that only 30% of Americans believe now is a good time to buy…Read More→<\/a><\/p>\n","protected":false},"author":0,"featured_media":389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts\/388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/comments?post=388"}],"version-history":[{"count":0,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts\/388\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/media\/389"}],"wp:attachment":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/media?parent=388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/categories?post=388"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/tags?post=388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}