Homebuyers who struggle to find a home due to affordability U.S. 2023, by generation

According to a survey conducted among over 15,000 respondents in the U.S., between 36 and 55 percent of home buyers who were actively looking to buy a home in the next 12 months were not able to find one at a price they could afford as of the second quarter of 2023. Approximately 37 percent of millennials struggled to find a home at an acceptable price, while for Baby Boomers, this percentage was higher at 55 percent. Accroding to the source, the main reason for the decline across all generations except for baby boomers was that respondents reported other reasons, such as getting outbid by other buyers or the inability to find a home in the desired neighborhood. In the second quarter of 2023, roughly 15 percent of U.S. adults were planning a home purchase in the next year.