“The Aspiring Home Buyer Profile is an in depth examination of the consumer preferences of non-homeowners, defined as those that rent and those that live with someone else (such as family or friends) without paying rent,” said the National Association of Realtors ™ (NAR).

“Data was collected throughout 2017 on a monthly basis as part of NAR’s Housing Opportunities and Market Experience (HOME) report, which monitors consumer sentiment about the housing market. Topics include if now is a good time to buy a home, the perception of homeownership as part of their American Dream, why non-owners do not own now, and what would cause them to purchase in the future,” said their study.

 

The NAR release to the Daily Business News provided the following highlights.

 

Highlights

• Of the U.S. consumer households that were surveyed each month in 2017, 63 percent of respondents were homeowners, 28 percent were renters, and 9 percent lived with someone else.

• Of the non-owners, 46 percent were 34 years or under, 57 percent make an income of under $50,000, and 41 percent live in suburban areas.

• For both homeowners and non-homeowners alike, homeownership is strongly considered a part of the American Dream.

• For non-owners, eight in 10 reported that homeownership is part of their American Dream in Q4. For owners, nine in 10 believe it is part of their American Dream.

So, while there is still a perception that renting is ‘preferred’ by many millennials, the data suggests that most rent because they don’t believe they can become a home owner.

Those are a powerful target market, says Barry Noffsinger, in a 16-minute video seminar to manufactured housing marketers and sellers, in the story linked below.

Manufactured Housing Monday Morning Sales Meeting: Finance & Industry Facts, Figures, Sales Tip$ Improving Best Practice$

The full NAR report is available as a download, linked here. ## (News, analysis, and commentary.)

Thousands Get It. Sign Up Today! Click here to sign up in 5 seconds for the manufactured home industry’s leading – and still growing – emailed headline news updates. You’ll see in the first issue or two why big, medium and ‘mom-and-pop’ professionals are reading them by the thousands. These are typically delivered twice weekly to your in box.

Follow us on Twitter:
ManufacturedHomes
@mhmsmcom

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.