Renters are losing faith that they will be able to buy a home in the next year, a worrying sign that the housing market won’t get a boost from new buyers anytime soon, according to a new report by Zillow.
Some 4.9 million renters say they plan to buy in the next year, down from 5.2 million in January, according to the property-market database company
Source: blogs.wsj.com
As renters lose faith in their ability to buy a home in the next 12 months, this further bolsters the multifamily market and the ability to absorb the large number of units scheduled to be delivered during the same time. It also underscores a worrying sign that the housing market won’t get a boost from new buyers anytime soon.
According to Zillow, some 4.9 million renters say they plan to buy in the next year, down from 5.2 million in January.