Despite Record Home Prices, Most Americans Think Now’s the Time to Buy
May 13, 2021
Home prices have been climbing at their fastest rate since the 2008 crash. Record-low inventory and massive demand have led to bidding wars fierce competition between potential buyers. Still, the majority of Americans feel now is a good time to buy a home.
In a recent Gallup poll, 53% of Americans said now is a good time to buy. While buyers acknowledge prices are high, they are not deterred, because they expect prices to continue to climb. The same survey found that 71% of Americans expect home prices to continue climbing. This is the highest percentage of Americans that have felt way since Gallup began tracking this data point.
That said, there is data to suggest Americans are becoming more worried about how long home prices can continue climbing. In April, Google searches for “when is the housing market going to crash?” increased by 2,450%.