Northeast has the most ‘actively engaged’ buyers

For northeast homebuyers, simply planning to purchase isn’t enough. More than any other region, buyers here are actively engaged in the process to find a home.¹ The numbers from the National Association of Home Builders^®:

• Across regions, prospective buyers in the northeast are the most likely to be “actively engaged” in the purchase process (57%)—compared to 44% in the midwest, 45% in the west, and 50% in the south.
• Among the generations, Millennials (57%) outpaced Generation X (47%), Generation Z (40%), and Baby Boomers (37%) in their percentage of active buyers.
• House hunters are, however, taking longer to find a home. In the second quarter, 59% of buyers looked for longer than three months, up four percentage points from last year.

If you or your customers have any questions about the home financing process while they look for the right home, I’d be more than happy to help.

¹Rose Quint, “Low mortgage rates convert prospective buyers into active buyers,” Eye on Housing Blog, last updated July 29, 2020.