As the economy recovers from COVID and the housing market gains traction, homeownership is top of mind for Americans, according to the latest survey from Coldwell Banker Real Estate LLC.
Conducted online by The Harris Poll, the survey of over 2,000 adults revealed what’s on home buyers’ and sellers’ minds as 2021 comes to a close.
When tasked with choosing marriage or a mortgage, 82% of unmarried Americans said they would rather invest in a home than pay for an expensive wedding. The majority (85%) of respondents were female.
The survey revealed that over three-quarters of respondents (77%) would rather invest in a home than spend money on an expensive vacation. In addition, college graduates are more likely to prioritize homeownership (41%) over paying off student debt (17%).
Who else has real estate on their mind going into 2022?
• Younger Americans: Respondents ages 18-44 are more likely to say owning a home is an important financial goal for them (45%) compared to those 55 and older (30%).
• Renters: 47% of renters say owning a home is an important financial goal for them.
• Hispanics: 42% of Americans surveyed who self-identified as Hispanic say owning a home is an important financial goal.
“The 2021 housing market has been marked by low inventory and competition as Americans continue to keep homeownership top of mind,” said M. Ryan Gorman, president and CEO of Coldwell Banker Real Estate LLC. “Our latest survey suggests that, with generations of all ages and backgrounds prioritizing homeownership over other financial goals, this sellers’ market may continue into 2022. Our network of approximately 100,000 agents is ready to help home sellers take the next step.”