NAR HOME Survey: Renters have affordability concerns, uncertainty about downpayment requirements

Lofty home-price growth and tight supply are leading to softening confidence among renters about whether it’s a good time to buy a home, according to the latest installment of the National Association of REALTORS Housing Opportunities and Market Experience (HOME) survey. The survey also found that a misconception about how much of a downpayment is needed to buy could be unnecessarily delaying some qualified young adults from entering the market. Learn more here. This study comes as NYSAR is advocating for adoption of the NY First Home Savings account, which would allow eligible first-time homebuyers to save, tax-free, for the purchase of a home. Click here to visit the NY First Home website.