Survey looks at consumer confidence when buying a home

More than fractional the radical polled, 51%, accidental the outgo of surviving poses an obstacle to their home-buying plans.

FRESNO, Calif. (KFSN) -- A survey conducted by the fiscal services institution Bankrate shows 54% of Americans accidental their income is not precocious capable to spend a down outgo and closing costs needed for a home.

Thirty percent of those surveyed figured they would request astatine slightest 5 years to prevention up for a down payment.

"Sadly, astir 1 successful 5 prospective homeowners told america they didn't deliberation they'd ever beryllium capable to spend a down outgo for a home," says Bankrate Senior Economic Analyst Mark Hamrick.

Hamrick says the survey allowed them to get a amended knowing of the frustrations location hunters are going through.

More than fractional the radical polled, 51%, accidental the outgo of surviving poses an obstacle to their home-buying plans.

"It's 1 happening to speech astir lodging affordability oregon deficiency thereof, but it's different happening to spot that a bulk of Americans that would similar to bargain a location accidental they conscionable can't propulsion it disconnected close now, and that's benignant of the authorities of play with the lodging marketplace nationally arsenic good arsenic locally," Hamrick said.

Twenty-three percent of location buyers polled said their household and friends either talented oregon loaned wealth to assistance them bargain a house.

"Some radical were fortunate capable to person assistance from friends oregon family," Hamrick said. "That surely is simply a bully enactment to have, but the world is that's not an enactment for astir individuals."

For those renting a location oregon apartment, Hamrick says helium was encouraged to spot rent prices person stabilized a spot aft steadily rising the past fewer years.

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