Forty-one percent of Americans aged 18-34 interested in buying home this year, including 46% of men, 36% of women; 30% of all Americans interested in buying home over next year, finds survey
May 28, 2013
– Men Who Plan or Planned to Buy a Home Are More Than Twice as Likely as Women -- 10 Percent to 4 Percent -- to Say Their Finances Are Shaky But Still Believe They Can Swing Buying a Home This Year
Among Americans ages 18 to 34, a total of 41 percent (46 percent men and 36 percent women in that age group) display an interest in buying a home this year. Of those in this age group who display an interest, 17 percent of men and about 6 percent of women see their finances as shaky but still think they can swing buying a home this year.
Among all Americans displaying an interest in buying a home this year, 10 percent of men and 4 percent of women said their finances were shaky but still think they can swing buying a home.
"It's heartening that young Americans haven't let go of the American dream of home ownership," said Rick Allen, chief operating officer of Mortgage Marvel. "It is important, however, that anyone looking to buy a home is very clear about what it takes, knows the impact of monthly mortgage payments on current finances, and has access to lenders who can provide the best terms possible."
Mortgage Marvel, which enables borrowers to compare real-time interest rates and closing costs and apply for a loan online at www.mortgagemarvel.com, commissioned the poll initially to see whether filing taxes and the prospect of receiving or not receiving a refund might influence people's decision to purchase a home. Leading market research firm Harris Interactive conducted the survey online among 2,064 U.S. adults ages 18 and older from April 18-22, 2013. The survey was conducted after the federal tax filing deadline, when Americans generally have a clearer picture of their financial health.
Overall, across age groups, 30 percent of Americans display an interest in buying a home during the next year.
Other interesting findings of the survey are:
Only 20 percent of those tax filers who are separated, divorced or widowed have or had an interest in buying a home this year, which is significantly less than those who are married (31%) or single and never married (38%).
Of those displaying an interest in buying a home this year, those in households with children under 18 years old are significantly more likely than households without to indicate they can't afford a home this year (24 percent versus 14 percent, respectively). However, they are also twice as likely as those without to indicate that, after seeing their taxes, they know their finances are stressed but still believe they can manage buying a home this year (11 percent and 5 percent, respectively).
Overall, 5 percent of people who have or had plans to buy a home this year indicated that they can't afford to this year after reviewing their taxes and finances.
This survey was conducted online within the United States by Harris Interactive on behalf of MortgageMarvel.com from April 18-22, 2013, 2,064 adults ages 18 and older. This online survey is not based on a probability sample, and therefore no estimate of theoretical sampling error can be calculated.
About Harris Interactive
Harris Interactive is one of the world's leading market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for the Harris Poll® and for pioneering innovative research methodologies, Harris offers proprietary solutions in the areas of market and customer insight, corporate brand and reputation strategy, and marketing, advertising, public relations and communications research. Harris possesses expertise in a wide range of industries including health care, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer package goods. Additionally, Harris has a portfolio of multi-client offerings that complement our custom solutions while maximizing our client's research investment. Serving clients in more than 196 countries and territories through our North American and European offices, Harris specializes in delivering research solutions that help us -- and our clients -- stay ahead of what's next. For more information, please visit www.harrisinteractive.com.
About Mortgage Marvel
Mortgage Marvel (www.MortgageMarvel.com) is an award-winning mortgage-shopping service that delivers accurate, anonymous, real-time rate quotes in seconds from a selection of hundreds of lenders. Mortgage Marvel is offered by D+H Mortgagebot, a leading provider of secure and reliable mortgage and consumer lending technology to nearly 1,300 clients nationwide. Aside from Mortgage Marvel, D+H Mortgagebot delivers the award-winning, end-to-end platform -- Mortgagebot Enterprise™ -- as a scalable, web-based solution for lenders to maximize their lending potential and streamline all origination processes. With Mortgagebot EnterprisePOS™, lenders can automate every point-of-sale channel where business is captured and integrate directly into the all-in-one Mortgagebot EnterpriseLOS™ -- for processing, closing, imaging, and secondary marketing -- or to third-party loan origination systems.
For more information about D+H Mortgagebot, please visit www.dhltd.com or www.mortgagebot.com.