In the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to buy a home over the following 12 months. The report indicates the share of all buyers that will likely be first-time buyers looking to purchase a house grew from 58% in This autumn 2018 to 63% in This autumn 2019.
The results revealed,
“Millennials are the almost definitely era to be making plans to buy a home within a yr (19%), followed by Gen Z (13%) and Gen X (12%)…Prospective consumers in the youngest two generations are primarily first-time buyers: 88% of Gen Z buyers and 78% of Millennial consumers are reaching out to homeownership for the first time of their lives.”
With a excessive demand from first-time homebuyers and a scarcity of inventory within the current Forest County market, promoting your current residence this yr could be your finest transfer. Why? Because when Forest County homebuyers start their search, they’re not all on the lookout for new construction|developments|buildings}. Many are keen to seek out slightly appeal and character in a spot to call home – presumably yours.
Actually, in accordance with the identical examine, there’s a significant demand for present Forest County properties:
“By way of the kind of home these potential residence consumers are considering, 40% need to purchase an existing dwelling and 19% a newly-built dwelling. The remaining 41% would buy either a brand new or current house.”
With showing activity up among Forest County buyers and extra new buildings coming to the Forest County market, as a homeowner, you could have the opportunity to sell your existing home now and move up into a brand new one, or downsize into a house that higher suits your current and ever-changing needs.
Bottom Line
Not all Forest County buyers are looking for a newly constructed home. For those who’re able to reap the benefits of low mortgage rates and a high demand for your existing home, let’s get together to find out how we’ll market the charming particulars of your present house to potential Forest County buyers.