May 8 2017, 11:42AM
While the historically low homeownership rate as reported by the Census Bureau has improved only marginally over the last year, a recent survey by Gallup indicates that it may be on the edge of change. Forty-nine percent of non-homeowners contacted by the polling company in March indicated they expect to buy a home within the next five years, with 10 percent planning on doing so in the next year. An additional 20 percent say they plan on being homeowners within ten years. This leaves only 28 percent with no plans to purchase a home.
Jeffrey M. Jones, who reported the story for Gallup, said these numbers have increased since the last such survey in April 2016 when 38 percent did not plan to buy in the foreseeable future. At that point 41 percent were within the five-year window. Gallup has conducted the survey in four of the last five years.