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Half of U.S. non-homeowners expect to buy homes in five years: Gallup

Xinhua, May 8, 2017 Adjust font size:

Roughly half of U.S. adult non-homeowners, or 49 percent of the total, are expected to purchase property in the next five years, a Gallup research showed Monday.

An additional 20 percent said they plan to own a home in the next 10 years, the study found.

The percentage of people who do not plan to buy a home in the foreseeable future, 28 percent, is the lowest since 2013, according to data released by the U.S. based analytical company.

The optimism among potential home owners signals an upward trend in the U.S. real estate market, which has been sluggish since a market bubble bursted in the mid 2000s.

The result coincided with another recent Gallup survey that showed 61 percent of those questioned predicted a rise in property prices in the next year, the highest since 2005.

By contrast only one fifth of homeowners said they plan to sell their house in the next five years.

The difference between the will to buy and to sell spells a booming real estate market in the coming years, Gallup noted, saying this dynamic "is raising concerns that certain markets may become overheated."

The results were gathered from 502 non-homeowners in a poll conducted between March 9 and 29. Enditem