Many Gen Z "dream" of buying a house in 2025

According to a recent survey from the real estate website Realtor (USA), many Gen Z buyers aspire to own a home and believe that this is a good time to buy real estate.

According to Realtors, the majority of people surveyed said they are ready to buy a home, even if mortgage rates rise.

Forty percent of them said buying a home would be more feasible if interest rates fell below 6 percent, while another 32 percent of buyers said they would be more willing to buy a home if interest rates fell below 5 percent.

However, attitudes toward home buying in the face of higher interest rates vary significantly by generation.

When asked how likely they would be to buy a home if mortgage rates hit 8%, more than 37% of Gen Z and 47% of Millennials said they would. In contrast, only 19% of Gen X said they would buy a home at such high interest rates.

According to another Realtor survey on the right time to buy real estate, a surprising 40% of Gen Z and 55% of Millennials said now is the best time to buy a home.

Meanwhile, only 32% of older generations agree with this view. More than 80% of them think that this is not a good time to buy a house.

The results are similar to data from the Fannie Mae Home Buyer Sentiment Index report, which concluded that even as consumers feel more optimistic about interest rates, only 17% believe now is a good time to buy a home.

Yet again, millennials continue to dream of buying a home. When Realtors surveyed potential buyers about when they might buy a home, millennials were the most optimistic group of buyers.

43% of them believe they will be able to afford a home by 2025. Meanwhile, 45% said they will be able to buy a home within the next 5 years.

Even as mortgage rates remain steady above 6% and appear to be trending higher, the willingness of young people to buy homes could provide some momentum in the housing market.

“The current housing market is very different than it was before the pandemic, but many young people still have a positive outlook on achieving their dream of owning a home,” said Danielle Hale, senior economist at Realtor.