American Housing Month

Homeownership is commonly identified as one of the pillars of the American Dream. And despite the persistent voices of doubt over recent years, the dream lives. According to a 2015 survey by TD Bank, 46% of millennials will be looking to buy their first home in the next 1-2 years. A panel hosted last month by the National Association of Realtors cited NAR survey data indicating that 90% of millennials currently renting would like to become homeowners in the future. And a new report released by the Joint Center for Housing Studies of Harvard University describes the current state of homeownership as “down but not out.”

The idea of a home of one’s own, it would seem, transcends the many fears and challenges faced by today’s consumers. Banks are well positioned to make themselves useful to these consumers. And until these would-be home owners are ready to buy, banks also finance the single- and multi-family rental properties that house them.

Bank marketers can tap into this demand by distributing information about what it takes to buy a home—even partnering with a nonprofit or public agency for home buyer education. There are numerous ways to engage millennials and other first time homebuyers while they are still renting.

ABA marks each June as American Housing Month to highlight the variety of housing options that consumers have and the role of banks in financing many of those options. The resources below are available as a benefit to ABA member institutions. Banks can use them to educate their customers and the general public about housing options in June and throughout the year.

Housing Month Guides