The real estate market has been on a wild ride these past few years and there’s still more uncertainty on the horizon. Now, many frustrated Americans are realizing they may never be able to afford their dream home.
IPX1031 surveyed more than 1,000 Americans across each generation about their dream homes. What do they look like? Where are they located? What would they cost, and are they in the cards?
The study found 90% of Americans believe owning a home is part of the American dream… but 51% say it isn’t attainable. Still, renters are hopeful they’ll be able to get into a home soon.
- 53% of Millennials and 47% of Gen Xers currently renting say they plan on buying a home within the next 5 years
- 57% prefer new construction over renovating a home
- California, Florida, New York, Washington, and Colorado are the top dream home locations
- 33% of Americans believe home ownership is a necessity in 2022, while 67% think it’s a lifestyle choice
And some dreams include a vacation home. One in four millennials, gen xers and baby boomers want to own two homes. Their top dream home destinations are Florida, California, Hawaii, and Italy. Take a look at the full report, which also includes generational insights on what people are looking for in their ideal home. Let me know if you have any questions or interest in sharing with your audience.
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