Really where are they going to buy these homes for $296,000

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From CAR

Survey: 52 Percent of Americans likely to buy a home in next five years
Source: HousingWire

According to the 2015 BMO Harris Bank Home Buyers Report, just over half of Americans — 52 percent — say they are likely to buy a home in the next five years. Americans surveyed are willing to pay an average of $296,000 for a home and will average a 21 percent down payment. Among likely buyers, 78 percent plan to get preapproved before seriously searching for a home. The majority (74 percent) of those looking to buy a new home will consult a real estate agent.
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- Sunil Sethi

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