C.E.O., Home Builders Association of Dayton

A new year often marks the beginning of a new life chapter.

In the wake of the COVID-19 pandemic, more Americans are interested in purchasing homes.

According to the National Association of Home Builders’ (NAHB) latest

survey responses show that the share of Americans who are considering the purchase of a home in the next 12 months increased in the fourth quarter of 2020.

The survey reports that interest among Americans who are considering purchasing a home increased by four percentage points higher than a year earlier.

The change in interest represents the largest year-over-year gain in the three-year history of the survey question. The gain shows the coronavirus outbreak continues to impact Americans’ propensity to want to buy homes.

Millennials are the generational group that stands out in their intent to buy a home.

Between the fourth quarters of 2019 and 2020, the share of millennials planning a home purchase rose eight points to 27 percent. The share increased six points to 18 percent among Gen Xers, three points to 16 percent among Gen Z, and was flat among baby boomers.

When it comes to firsttime prospective home buyers’ the interest among different generations shifts dramatically.

The share of prospective buyers who are buying a home for the firsttime declined slightly at the end of the year, except for boomers.

Among the boomer generation, the share of first-time home buyers rose from 20 percent to 25 percent in the final quarter of 2020 compared to a year earlier.

More than a third (37 percent) of perspective home buyers expect that finding the right home will get easier in the months ahead, compared to less than a quarter (23 percent) a year ago. The improvement in buyers’ perceptions on availability reflects the fact that more new and existing homes were sold in 2020 than any year since 2006.

To meet local home building professionals and learn more about the home building process, contact the Home Builders Association of Dayton at info@hbadayton.com, find information on all residential construction experts at HBADayton.com, and follow the HBA on all social platforms: @HBADayton.

Be sure to you stay up to date with the HBA of Dayton’s annual Spring Parade of Homes, which will take place the weekends of April 23-25 and April 30-May 2 this year. This is a great way to see some of the subdivisions around the Dayton region, meet with some of the builder and builder reps, as well as see some of the latest amenities provided.