Within the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to purchase a home over the following 12 months. The report indicates the proportion of all buyers that might be first-time buyers trying to buy a house grew from 58% in This fall 2018 to 63% in This autumn 2019.
The results revealed,
“Millennials are the most certainly technology to be making plans to purchase a home inside a 12 months (19%), adopted by Gen Z (13%) and Gen X (12%)…Potential buyers 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 shortage of inventory within the present Iowa County market, promoting your current house this yr is likely to be your greatest transfer. Why? As a result of when Iowa County homebuyers begin their search, they’re not all looking for new construction|developments|buildings}. Many are keen to search out a little charm and character in a spot to name dwelling – possibly yours.
In truth, according to the identical examine, there’s a significant demand for present Iowa County properties:
“In terms of the kind of home these potential dwelling consumers are inquisitive about, 40% are looking to buy an present residence and 19% a newly-built dwelling. The remaining 41% would buy either a new or current house.”
With showing activity up among Iowa County buyers and extra new buildings coming to the Iowa County market, as a house owner, you’ve got the opportunity to list your present home now and transfer up into a brand new one, or downsize into a house that better suits your present and ever-changing needs.
Bottom Line
Not all Iowa County buyers are in search of a newly constructed house. In the event you’re ready to reap the benefits of low mortgage rates and a high demand to your current house, let’s get collectively to determine how we will market the charming particulars of your present house to potential Iowa County buyers.