An increasing share of Americans who don't own a home expect that they will buy one in the near future, according to a recent Gallup poll.

Of the 502 non-homeowners interviewed for the poll, 49 percent said they expect to buy a home within five years. This included 10 percent who believe they will buy a home within 12 months and 39 percent who expect to get a home sometime in the next five years.

One in five respondents said they expect to own a home within the next decade. Twenty-eight percent said they do not believe they will own a home in the foreseeable future.

The results showed an increase in homeownership expectations from the previous year. In a Gallup poll in April 2016, 41 percent of respondents expected to own a home within five years and 18 percent said they would likely become homeowners within 10 years. Thirty-eight percent said they did not expect to become homeowners in the foreseeable future.

Younger respondents were considerably more likely to see homeownership in their future. Fifty-eight percent of those between the ages of 35 and 54 and 52 percent of those between the ages of 18 and 34 said they think they will buy a home within five years. Only 22 percent of those ages 55 and older had the same expectations.

Sixty-five percent of the oldest age group said they don't believe they will purchase a home in the foreseeable future. Only 28 percent of the 35-54 age group and 14 percent of the 18-34 age group thought the same.

Gallup also found that the majority of current homeowners—64 percent—do not plan on selling their property in the foreseeable future. Sixteen percent said they will probably sell within 5 years, including 4 percent who expected to put their home on the market in the next 12 months. Thirteen percent said they will likely sell within 10 years. These results showed little change from four years ago.

Forty-nine percent of those who expect to sell said they plan to downsize and buy a smaller or less expensive property than their current home. Another 29 percent went in the opposite direction, saying they would move up to a larger or more expensive home. Thirteen percent said they would move into a rental property, while only 2 percent said they would buy a home with a similar value and size to their current residence.

Gallup commented that while the results show a strong interest in homeownership, it also indicates that the available supply of homes for sale may not keep up with the demand in the coming years. This could result in an increase in home construction to meet demand as well as higher home prices due to competition for a limited number of properties on the market.