Showings slipped a little this week but new and pending listings are up and coming soon listings are still strong. New listings are over 3,000, the highest since last August/September. But even more significant, new and coming soon listings combined are over 4,000… the highest since June 2019!
Interest is still strong in buying a home, in fact 93% of Americans believe a home is a better investment than stocks… more about that below from our blog at Keeping Matters Current.
A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes.
Do Americans believe a home is a better investment than stocks?
In a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York notes that 93.3% of Americans believe buying a home is definitely or probably a better investment than buying stocks.
Here’s how the results break down:
The survey also shows a wide range of reasons why Americans feel that way (respondents were able to pick more than one answer):
Bottom Line
The data show how strongly Americans believe in homeownership as an investment. That belief is warranted. The Liberty Street Economics blog put it best by saying:
“Housing represents the largest asset owned by most households and is a major means of wealth accumulation, particularly for the middle class.”
