In the newest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to purchase a home over the subsequent 12 months. The report indicates the proportion of all buyers that can be first-time buyers seeking to purchase a house grew from 58% in This autumn 2018 to 63% in Q4 2019.
The results revealed,
“Millennials are the more than likely era to be making plans to purchase a house inside a 12 months (19%), followed by Gen Z (13%) and Gen X (12%)…Potential patrons within the youngest two generations are primarily first-time buyers: 88% of Gen Z patrons and 78% of Millennial patrons 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 in the current Kenosha County market, promoting your present residence this 12 months could be your best move. Why? As a result of when Kenosha County homebuyers begin their search, they’re not all searching for new construction|developments|buildings}. Many are eager to search out a bit of allure and character in a spot to call house – presumably yours.
In fact, in keeping with the same research, there is a significant demand for current Kenosha County homes:
“In terms of the kind of house these potential dwelling patrons are fascinated about, 40% want to purchase an present residence and 19% a newly-built home. The remaining 41% would purchase either a brand new or existing house.”
With showing activity up among Kenosha County buyers and more new buildings coming to the Kenosha County market, as a home-owner, you may have the opportunity to sell your current house now and move up into a brand new one, or downsize into a home that better matches your current and ever-changing wants.
Bottom Line
Not all Kenosha County buyers are on the lookout for a newly constructed house. When you’re ready to make the most of low mortgage rates and a high demand on your present dwelling, let’s get together to determine how we’ll market the charming details of your current house to potential Kenosha County buyers.