Pent-Up Demand Drives Optimism Among Prospective Homebuyers
It may not seem like a good time to buy a home, but a recent report shows pent-up demand is driving prospective buyers to jump into the market anyway
Jan. 28, 2025
[Drazen Zigic]/[iStock/Getty Images Plus] via Getty Images
Pent-up demand is bringing more prospective buyers to the housing market.
The housing market has stagnated over the past couple of years, with high prices keeping demand at bay. Despite this, optimism from prospective homebuyers has improved, according to personal finance company NerdWallet’s 2025 Homebuyer Report. While 69% of those surveyed say the housing market has never been worse than right now, 15% of respondents still say they plan to purchase a home in the next 12 months. This is likely due to pent-up demand, with many feeling like they can no longer wait for prices to subside.
Nearly all prospective buyers (96%) say they’ve taken at least one step in the planning process. However, the actions they’re taking may not be enough: While more than half (54%) have begun looking at homes on listing apps (the most common action taken by prospective buyers), just 35% have started working on their down payment fund.Read more
