More US renters plan to buy, housing market confidence increases

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The next year is expected to see a surge in renters deciding to buy a home in the US according to the latest Zillow Housing Confidence Index. The data suggests that there will be a 25 per cent increase in those making the move with a total of 5.2 million buying homes in the next year. Renters in Atlanta, Los Angeles and Washington DC are among the most likely to buy while those in Boston, Seattle and St. Louis are least likely to.

The index also reports that confidence in the housing market among consumers is rising; homeowners are most confident overall but in 14 of the 20 metros surveyed renter confidence is growing faster.

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