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Lincoln County 1st Time Home Buyers Are Seeking for Existing Homes In 2020

Lincoln County 1st Time Buyers Are Seeking for Existing Homes This Year

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.

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