A new Gallup poll found that 65 percent of Americans believe now is a good time to buy a home, though that share is slightly down from last year. In 2014, 74 percent said it was a good time to buy.
Real estate remains the "preferred asset class" for most Americans, and as a result, Gallup concluded that the decrease from last year to this year is "mirroring the market, and reveals buyer awareness of current tight market conditions, namely high prices and shrinking inventory, MarketWatch reports. The website notes that the current share of respondents who think it's a good idea to buy a home nearly matches the current national homeownership rate.
Is this a good time to buy a house? That’s complicated. Economic conditions like a strong job market say “yes.” Housing market fundamentals like too few homes available for sale say “no.” Personal views about owning versus renting say “maybe.” Gallup first asked the question back in 1978, and the survey firm notes that the percentage of Americans saying it’s a good time to buy has never fallen below 50 percent.
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