The lack of affordable home prices is the most prevalent factor keeping young renters from purchasing a home, according to a recent survey by the real estate database CoreLogic.

CoreLogic teamed up with RTi Research of Norwalk to poll 362 renters on why they weren't currently interested in buying a home. This included 170 millennials (ages 18 to 39), 82 Generation Xers (ages 40 to 54), and 102 baby boomers (ages 55 to 74).

Overall, 48 percent said housing affordability was one reason they weren't interested in homeownership. Respondents were most likely to say they their current living situation met their needs at this stage in their life, with 52 percent giving this response.

However, the youngest respondents were more likely to say they were being priced out of the housing market. Fifty-six percent, including 63 percent of those under the age of 29 and 50 percent of the generation's older respondents, cited affordability. Forty-two percent said their current living situation met their needs, and the same share said they didn't want the responsibility that came with owning a home.

Responses were similar among Generation Xers. Fifty-two percent cited affordability as a reason for not being interested in homeownership, followed by 48 percent who said their current living situation met their needs and 43 percent who didn't want the responsibility of homeownership.

"One-third of millennial renters reported feeling they cannot afford a down payment to buy a home," said Frank Martell, president and CEO of CoreLogic. "With home prices rising quickly over the past few years and supplies low, first-time homebuyers face ever-growing challenges to find and buy affordable entry-level homes. More needs to be done to help our first-time buyers join the homeownership class."

The survey results were published as part of CoreLogic's Home Price Insights report, which determined that national home prices in June rose 6.8 percent from the previous year. The report forecasts that annual price growth will slow to 5.1 percent next June.

Frank Nothaft, chief economist at CoreLogic, said the more challenging affordability conditions are slowing sales in some markets. For example, the company's records showed that home sales in the San Francisco Bay Area were down 9 percent on an annual basis, while sales in southern California dropped by 12 percent.

"Further increases in home prices and mortgage rates over the next year will likely dampen sales and home price growth," said Nothaft.

In the survey, just 36 percent of baby boomers said affordability issues were preventing them from buying a home. Sixty-three percent said their current living situation met their needs, and 58 percent said they didn't need to own a home at this stage in their lives. Forty-six percent of this generation said they didn't want the responsibilities of homeownership.

Just 35 percent of millennial respondents said they did not have the need to own a home. One in four Generation Xers also gave this response.

Eighteen percent of respondents said they did not think they would qualify for a mortgage. This included 25 percent of Generation Xers, 19 percent of baby boomers, and 15 percent of millennials.