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 next 12 months. The report indicates the percentage of all buyers that shall be first-time buyers looking to buy 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 planning to buy a home within a 12 months (19%), followed by Gen Z (13%) and Gen X (12%)…Potential buyers within the youngest two generations are primarily first-time consumers: 88% of Gen Z patrons and 78% of Millennial buyers 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 current Lincoln County market, selling your current residence this yr is perhaps your best move. Why? As a result of when Lincoln County homebuyers begin their search, they’re not all on the lookout for new construction|developments|buildings}. Many are eager to search out just a little attraction and character in a spot to call dwelling – probably yours.
In actual fact, in keeping with the same study, there is a important demand for existing Lincoln County properties:
“By way of the kind of house these potential residence patrons are thinking about, 40% want to buy an current home and 19% a newly-built dwelling. The remaining 41% would purchase either a brand new or present house.”
With showing activity up among Lincoln County buyers and more new developments coming to the Lincoln County market, as a homeowner, you’ve got the chance to list your existing house now and transfer up into a brand new one, or downsize into a home that better matches your present and ever-changing wants.
Bottom Line
Not all Lincoln County buyers are looking for a newly constructed home. When you’re able to reap the benefits of low mortgage rates and a excessive demand to your existing home, let’s get together to find out how we will market the charming particulars of your present home to potential Lincoln County buyers.