Sixty percent of non-homeowning millennials say student loan debt is delaying their ability to buy a home, according to a survey released by the National Association of Realtors. 

A new study has found that the best time to buy a home this year is upon us due to a confluence of increased inventory and lower competition among buyers. 

Home purchase sentiment is down on an annual basis and remains relatively flat month over month. The good-time-to-sell-rough-time-to-buy feeling remains strong among consumers, however the Fannie Mae Home Purchase Sentiment Index indicates some optimism from those considering buying in coming months. The experts at Fannie Mae say concerns about the coronavirus Delta variant, as well as inflation, could be negatively affecting consumer confidence.

Elevated home prices have made the prospect of purchasing property for the first time especially daunting. Broadly speaking, that has not quelled Americans' desire to become homeowners, shows a LendingTree survey, which reported 88% of consumers who responded to its poll said they would rather own their home than rent. That said, almost half of those who rent are worried they will never own a house.

According to the National Association of Realtors (NAR), existing-home sales rose in July, marking two consecutive months of increases. Total existing-home sales, defined as completed transactions that include single-family homes, townhomes, condominiums, and co-ops, grew 2.0% month-over-month in July to a seasonally adjusted annual rate of 5.99 million. Sales inched up year-over-year, increasing 1.5% from a year ago (5.90 million in July 2020).

The latest report from the National Association of Homebuilders (NAHB) suggests prospective borrowers might be discouraged by the state of today's market, which includes high prices, intense competition, and a shortage of available, affordable inventory. Still, some 17% of Americans plan to purchase a home within the year, according to NAHB's Housing Trends Report (HTR), covering data collected June 16-20. The last, and only, other time the share of prospective buyers stood at 17% was in the first quarter of 2018, the researchers noted.

While the coronavirus pandemic thwarted homeownership plans for many young adults, a study published last week showed that it was just one of many factors causing millennials, the housing market's largest demographic of consumers, to pause plans to pursue the American Dream.

The percentage of purchase activity to total closed loans among applicants born 1980-1999 increased for the third consecutive month, according to the ICE Mortgage Technology Millennial Tracker.

Home sales and prices, new construction, supply and demand issues, and related metrics are big players in the overall economic outlook, according to economists at Fannie Mae, who say housing is poised to become a "meaningful driver of inflation" over the next year and a half.

Despite very low and steadily holding mortgage rates, overall rate locks—particularly rate/term refinances—were still down across the board in May, due primarily to low inventory, according to the latest Black Knight Originations Market Monitor report.