In the newest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to buy a house over the subsequent twelve. The report signifies the percentage of all buyers that will likely be first-time buyers looking to purchase a home grew from 58% in This fall 2018 to 63% in This autumn 2019.
The results revealed,
“Millennials are the almost definitely technology to be planning to purchase a house inside a 12 months (19%), followed by Gen Z (13%) and Gen X (12%)…Prospective consumers in the youngest two generations are primarily first-time patrons: 88% of Gen Z buyers and 78% of Millennial consumers are reaching out to homeownership for the first time in their lives.”
With a high demand from first-time homebuyers and a shortage of inventory in the present Dane County market, selling your current dwelling this yr is perhaps your finest move. Why? Because when Dane County homebuyers begin their search, they’re not all on the lookout for new construction|developments|buildings}. Many are keen to search out a bit charm and character in a place to call house – presumably yours.
In reality, in accordance with the identical study, there is a important demand for current Dane County properties:
“By way of the kind of home these potential dwelling buyers are occupied with, 40% need to buy an current residence and 19% a newly-built home. The remaining 41% would buy either a new or present dwelling.”
With showing activity up among Dane County buyers and extra new buildings coming to the Dane County market, as a house owner, you’ve the opportunity to sell your existing home now and move up into a new one, or downsize into a house that higher fits your current and ever-changing needs.
Bottom Line
Not all Dane County buyers are looking for a newly constructed home. In the event you’re able to benefit from low mortgage rates and a excessive demand in your current home, let’s get together to determine how we will market the charming details of your current home to potential Dane County buyers.