Chase Housing Confidence Index: Housing Market Optimism Reaches New High
Chase and Pulsenomics connected with 3,000 homeowners and renters across the country to discuss the state of the housing market, as well as their expectations and aspirations for the future.
Confidence Remains High
- 79% say now is a good time to sell.*
- Most citing the large number of people looking to buy (nearly 50%)
- 78% still believe “buying a home is the best investment a person can make”
- Top Reason: “Lots of people are looking to buy”
- 7 in 10 said owning a home provides a person with more freedom than renting
Top 10 Markets for Housing Index
- Las Vegas
- San Francisco
- San Jose
- San Antonio
Renters are Reaching for Ownership
- More than 6 in 10 renters said owning a home is “a specific goal I am determined to reach” or “something I think about a lot.”
- 70% renters confident or somewhat confident that they will be able to afford homeownership in the future.
- 70% of Millennials and Gen Z are looking to buy a home in the next 5 years – 1/3 in the next 2 years.
What matters when you’re ready to buy:
- Safety of the neighborhood (53%)
- Interior living space (28%)
- Backyard (25%)
- Commute to work (24%)
- Those aged 65+ and 18-34 ranked proximity to family and friends more important than those in other age groups.
- Boomers ranked quality of schools and commute to work last on their list of priorities.
Landscaping Tops Kitchens in Desired Renovation Spaces
Landscaping #1 for Millennials and Gen Z (41%) Want Instagram-worthy curb appeal
- Timing: When to kick off renovation projects
- Ready for Action (3-6 months out)
- Planning Stages (1 year out)
- Setting Goals (2+ years out)
- 60% plan to finance renovations
- $20k average amount borrowed
The Chase Housing Confidence Index is distributed in partnership with Pulsenomics LLC. Pulsenomics LLC is an independent research firm that specializes in data analytics, opinion research, new product, and index development for institutional clients in the financial and real estate arenas. For more information, please visit Chase.com or www.pulsenomics.com
*Of those with opinions