Within the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to purchase a house over the subsequent twelve. The report signifies the proportion of all buyers that will likely be first-time buyers trying to purchase a home grew from 58% in This fall 2018 to 63% in Q4 2019.
The results revealed,
“Millennials are the almost definitely generation to be making plans to buy a home within a year (19%), followed by Gen Z (13%) and Gen X (12%)…Prospective buyers in the youngest two generations are primarily first-time buyers: 88% of Gen Z patrons and 78% of Millennial buyers are reaching out to homeownership for the primary time of their lives.”
With a high demand from first-time homebuyers and a shortage of inventory in the current Jackson County market, selling your present residence this year might be your finest transfer. Why? Because when Jackson County homebuyers start their search, they’re not all looking for new construction|developments|buildings}. Many are eager to search out somewhat charm and character in a spot to call home – probably yours.
In fact, in line with the same examine, there is a important demand for current Jackson County homes:
“In terms of the type of dwelling these potential dwelling patrons are curious about, 40% want to purchase an present house and 19% a newly-built dwelling. The remaining 41% would buy either a new or present residence.”
With showing activity up among Jackson County buyers and extra new buildings coming to the Jackson County market, as a home-owner, you’ve gotten the opportunity to sell your present house now and transfer up into a brand new one, or downsize into a house that higher fits your current and ever-changing wants.
Bottom Line
Not all Jackson County buyers are on the lookout for a newly constructed house. If you happen to’re able to take advantage of low mortgage rates and a high demand in your existing house, let’s get collectively to determine how we will market the charming details of your current house to potential Jackson County buyers.