93% of Young Renters Plan to Become Owners

Consumers are becoming more positive toward the idea of homeownership as home prices rise and the threat of delinquencies and foreclosures subside, Trulia reported Wednesday.

Confidence in future ownership is especially prevalent among young renters. According to Trulia’s American Dream survey, 93 percent of renters between the ages of 18 and 34 plan to purchase a home some day.

For 31 percent of renters, that “some day” is actually within the next two years, an increase from 28 percent in May 2012 and 22 percent in January 2011. In addition, 27 percent of consumers feel more positive about homeownership compared to six months ago.

However, a downward trend was seen among consumers who say homeownership is part of their own personal American dream. Seventy-two percent said it is part of their own dream, a decrease from February 2009 and January 2010, when 76 percent and 77 percent, respectively, said homeownership was part of their dream…

Read the rest of this post by DSNews.com here: “Trulia: 93% of Young Renters Plan to Become Owners”.

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Renee West

I'm a real estate broker associate in Newport Beach & Corona del Mar, CA, with Berkshire Hathaway HomeServices California Properties.
If you have any questions about the real estate market, or are interested in listing or buying, please don't hesitate to contact me at (714) 914-9060 or Renee@bhhscdm.com!
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