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Iowa County First-Time Buyers Are Searching for Existing Homes In 2020

Iowa County First-Time Home Buyers Are Seeking for Existing Homes In 2020

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.

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