Most Young Consumers Want to Buy a Home, Survey Finds | Katonah NY Real Estate

The economic downturn that ended a few years ago may have soured many consumers on making significant financial decisions. But as the effects of the recession fade, many may be more interested in homeownership. That seems particularly true of younger consumers who may not have been in a position to buy years ago.

Today, the vast majority of consumers between the ages of 25 and 44, comprising both millennials and those in Generation X, say that homeownership is at least somewhat important to them, according to a new survey from Prudential Real Estate. In all, 96 percent of all consumers feel this way. But 77 percent of those aged 25 to 34, and 78 percent of people between 35 and 44, say it’s “very important.” Further, 74 percent say that the current levels of affordability lent by historically low interest rates mean that now is a great time for them to buy a home.