Within the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to buy a house over the next 12 months. The report indicates the share of all buyers that might be first-time buyers looking to purchase a house grew from 58% in Q4 2018 to 63% in This fall 2019.
The results revealed,
“Millennials are the most certainly generation to be planning to purchase a home inside a yr (19%), followed by Gen Z (13%) and Gen X (12%)…Prospective consumers in the youngest two generations are primarily first-time consumers: 88% of Gen Z consumers and 78% of Millennial consumers are reaching out to homeownership for the primary time of their lives.”
With a excessive demand from first-time homebuyers and a shortage of inventory within the current Columbia County market, selling your existing house this year may be your greatest move. Why? Because when Columbia County homebuyers begin their search, they’re not all searching for new construction|developments|buildings}. Many are keen to search out slightly attraction and character in a place to name house – possibly yours.
Actually, in response to the identical examine, there’s a vital demand for current Columbia County properties:
“In terms of the kind of residence these prospective home consumers are involved in, 40% wish to purchase an current dwelling and 19% a newly-built dwelling. The remaining 41% would buy either a brand new or existing dwelling.”
With showing activity up among Columbia County buyers and more new construction coming to the Columbia County market, as a house owner, you have the opportunity to sell your existing house now and transfer up into a brand new one, or downsize into a home that better suits your present and ever-changing needs.
Bottom Line
Not all Columbia County buyers are in search of a newly built home. For those who’re able to take advantage of low mortgage rates and a high demand in your current house, let’s get together to find out how we’ll market the charming details of your current home to potential Columbia County buyers.