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The share of adults planning a home purchase within a year stood at 13% in the second quarter of 2022, unchanged from the previous quarter, but lower than a year earlier (17%).  The leveled reading suggests that, after shrinking for the past three quarters, the pool of potential home buyers may have stabilized.

Part of the reason housing demand has decelerated is that 1st-time home buyers continue to retreat:  their share of all prospective buyers peaked at 65% in the third quarter of 2021, followed by three straight declines to reach the current 59% – its lowest point in almost two years (56% in the third quarter of 2020).