The National Association of REALTORS® (NAR) just released its Q2 2019 Homeownership Opportunities and Market Experience (HOME) report.

The HOME report traditionally focuses on consumer perceptions of the market. Is it a good time to buy? Is it a good time to sell? Let’s take a look…

Is It a Good Time to Buy?

The majority of potential buyers, 65%, indicated that now is a good time to buy a home. Below is a breakdown of that 65% by age, income, region, location and home tenure.

Age – Yes 

  • 54% – Millennials
  • 62% – Gen Xers
  • 72% – Young Boomers
  • 70% – Older Boomers
  • 71% – Silent Generation

Household Income – Yes

  • 57% – under $50,000
  • 65% – $50,000 – $100,000
  • 74% – $100,000+

Region – Yes

  • 66% – Northeast
  • 68% – Midwest
  • 66% – South
  • 56% – West

Location – Yes

 72% – Rural

65% – Suburban

  • 58% – Urban

Tenure – Yes

  • 74% – homeowner
  • 51% – renter
  • 43% – living with someone (not specified)

Consumers who do not think now is a good time to buy a home are renters, millennials, people living in urban areas and people living with someone else (not specified).

Is It a Good Time to Sell?

A higher majority of consumers (73%) think that now is a good time to sell a house. In Q1 2019, 65% of consumers thought it was a good time and 80% of consumers earning $100,000+ thought it was a good time to sell.

Age – Yes 

  • 67% – Millennials
  • 76% – Gen Xers
  • 74% – Young Boomers
  • 76% – Older Boomers
  • 72% – Silent Generation

Income – Yes 

  • 62% – under $50,000
  • 77% – $50,000 – $100,000
  • 80% – $100,000+

Location – Yes

  • 74% – Rural
  • 74% – Suburban
  • 70% – Urban

Consumers living in the West, 79% of them, said now was a good time to sell.

Have home prices gone up in the past 12 months? 63% said yes.

Will home prices go up in the next 6 months? 49% said yes.

Is it very difficult to get a mortgage?

  • 26% of Millennials said yes.
  • 23% of Gen Xers said yes.
  • 31% of Young Boomers said yes.
  • 43% of Older Boomers said yes.
  • 30% of Silent Generation said yes.