Rush to market: 78% of survey participants say they’ll buy a home before 2028

If it seems like houses have been flying off the market at a record pace, you may not be far off. 

2021 marked a season of record home buying, but with sales down over 20% year over year, some experts are forecasting a slowdown in home sales. Opendoor’s first-ever Financial Wellness Study spoke with prospective homeowners to understand how they’re thinking about the market.  

How many people want to buy homes?

78% of respondents told Opendoor they plan on buying a home in the next 5 years, which may be a healthy time horizon for people to save and patiently wait for market gyrations to stabilize. 

A full 53% of respondents said they plan on buying a home in the next 2 years. 

Why do people want to buy homes?

But if interest rates stay up, which can make new mortgages more expensive, what’s the rush to buy a home? 

Opendoor found the most common reason prospective buyers want to own a home is because they view it as an investment. 37% of respondents say they believe becoming a homeowner will improve their quality of life. 

Interestingly, home ownership might also have a small influence on the dating pool, too. Of the people surveyed, 41% of respondents said homeownership makes a potential partner more attractive. 

We can’t help you find a partner. But we can help you buy your dream home. Compete in a hot market and lock in the perfect home with an offer backed by our cash. 

This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice. Opendoor always encourages you to reach out to an advisor regarding your own situation.