Obstacles Hinder Aspiring Home Buyers

Affordability pressures, student debt and possible confusion about down payment requirements have kept many aspiring homeowners from reaching the market, according to NAR’s Aspiring Home Buyers Profile, which analyzes data from the association’s Housing Opportunities and Market Experience (HOME) survey. “Nearly all non-homeowners said they want to own a home in the future, but it’s evident that higher rents and home prices—up 41 percent in the past five years—along with limited entry-level supply and repaying student debt have combined to make buying a challenging goal,” says NAR Chief Economist Lawrence Yun. View the NAR News Release for more information.