Renters agree it’s a bad time to buy
Homebuying blues…
“Up to 80% of US renters feel that now is a bad time to buy a home, with pandemic home-buying optimism cooling down over the past two years.” This is based on Fannie Mae’s latest National Housing Survey.
Our Take
When mortgage interest rates began rising in 2022, the percentage of renters who believed it was a bad time to buy a home stabilized in the 70-80% range.
Today, the barriers to homeownership include down payment size, interest rates, limited supply, and factors like creditworthiness. Given these challenges, it’s no surprise that many people feel their only option is to continue renting.
If renting is your only option, townhome living might be a more affordable choice. Schedule an appointment to discuss the options we’re currently offering in the heart of downtown Arlington, Texas.
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Source: CRE Daily & YieldPro.com, July 9, 2024