Within the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to buy a home over the subsequent 12 months. The report signifies the percentage of all buyers that might be first-time buyers trying to buy a house grew from 58% in Q4 2018 to 63% in Q4 2019.
The results revealed,
“Millennials are the most certainly generation to be making plans to buy a house within a yr (19%), followed by Gen Z (13%) and Gen X (12%)…Potential consumers in the youngest two generations are primarily first-time consumers: 88% of Gen Z patrons and 78% of Millennial patrons are reaching out to homeownership for the primary time in their lives.”
With a excessive demand from first-time homebuyers and a scarcity of inventory in the present Adams County market, promoting your current residence this year might be your best move. Why? Because when Adams County homebuyers start their search, they’re not all looking for new construction|developments|buildings}. Many are keen to seek out somewhat allure and character in a place to call dwelling – possibly yours.
The truth is, in accordance with the same research, there’s a important demand for current Adams County properties:
“In terms of the kind of house these potential home patrons are involved in, 40% wish to buy an current house and 19% a newly-built home. The remaining 41% would purchase both a brand new or current residence.”
With showing activity up among Adams County buyers and extra new developments coming to the Adams County market, as a home-owner, you’ve got the chance to list your current house now and move up into a brand new one, or downsize into a home that better matches your present and ever-changing needs.
Bottom Line
Not all Adams County buyers are looking for a newly built house. Should you’re able to take advantage of low mortgage rates and a excessive demand to your current house, let’s get collectively to determine how we’ll market the charming particulars of your present home to potential Adams County buyers.