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 signifies the share of all buyers that will be first-time buyers looking to buy a home grew from 58% in Q4 2018 to 63% in This autumn 2019.
The outcomes revealed,
“Millennials are the most likely generation to be planning to buy a home within a 12 months (19%), adopted by Gen Z (13%) and Gen X (12%)…Prospective buyers in the youngest two generations are primarily first-time patrons: 88% of Gen Z buyers and 78% of Millennial patrons are reaching out to homeownership for the primary time in their lives.”
With a high demand from first-time homebuyers and a scarcity of inventory in the present Florence County market, promoting your present dwelling this yr is perhaps your finest move. Why? As a result of when Florence County homebuyers start their search, they’re not all searching for new construction|developments|buildings}. Many are keen to seek out a little attraction and character in a spot to name home – probably yours.
In fact, in line with the identical examine, there’s a significant demand for existing Florence County homes:
“By way of the kind of residence these potential house buyers are all in favour of, 40% want to purchase an present house and 19% a newly-built residence. The remaining 41% would buy either a brand new or current house.”
With showing activity up among Florence County buyers and extra new construction coming to the Florence County market, as a home-owner, you’ve the chance to list your present home now and transfer up into a new one, or downsize into a house that better fits your current and ever-changing wants.
Bottom Line
Not all Florence County buyers are on the lookout for a newly built house. When you’re able to reap the benefits of low mortgage rates and a high demand for your present dwelling, let’s get together to find out how we’ll market the charming particulars of your present home to potential Florence County buyers.