About 75 percent of non-homeowners believe homeownership is still part of the American dream. However, the biggest barrier for non-owners is that they are unable to afford a mortgage, according to the fourth-quarter “2018 Homeownership Opportunities and Market Experience (HOME)” survey from the National Association of Realtors.

During the last quarter of 2018, 43 percent of non-owners said they did not own a home because they were not in a position to purchase one, which is down from 49 percent who said the same in the third quarter. Thirty-three percent said they do not own because current life circumstances are not suitable for ownership, and 16 percent said they currently need the flexibility of renting.

So, what could encourage them to buy? Thirty-one percent of non-owners said an improvement in their financial situation would be the biggest motivator to encourage them to buy a home. Thirty-percent also said a change in their lifestyle, such as getting married, starting a family, or retiring, would also be a big motivator to buy.

“The lack of affordable and moderately priced homes has forced non-homeowners to delay achieving that part of the American dream,” says Lawrence Yun, NAR’s chief economist. “However, as the survey confirms, significant lifestyle changes like marriage or starting a family often spur non-owners to pursue homeownership.” The survey is based on more than 8,000 consumer responses.