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Monroe County First-Time Home Buyers Are Seeking for Existing Homes This Year

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

In the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to buy a house over the next 12 months. The report signifies the proportion of all buyers that shall be first-time buyers trying to buy a house grew from 58% in This autumn 2018 to 63% in Q4 2019.

The results revealed,

“Millennials are the probably technology to be planning to buy a home within a yr (19%), adopted by Gen Z (13%) and Gen X (12%)…Potential consumers in the youngest two generations are primarily first-time patrons:  88% of Gen Z patrons and 78% of Millennial patrons are reaching out to homeownership for the primary time of their lives.”

With a high demand from first-time homebuyers and a scarcity of inventory within the present Monroe County market, promoting your existing dwelling this yr may be your greatest move. Why? As a result of when Monroe County homebuyers start their search, they’re not all looking for new construction|developments|buildings}. Many are eager to search out a bit allure and character in a place to call home – probably yours.

In reality, in line with the identical research, there is a significant demand for current Monroe County houses:

“When it comes to the kind of residence these potential residence consumers are occupied with, 40% want to buy an present home and 19% a newly-built home. The remaining 41% would purchase either a new or present dwelling.”

With showing activity up among Monroe County buyers and extra new construction coming to the Monroe County market, as a home-owner, you might have the opportunity to list your present home now and move up into a new one, or downsize into a home that better matches your present and ever-changing wants.

Bottom Line

Not all Monroe County buyers are in search of a newly built house. When you’re ready to take advantage of low mortgage rates and a excessive demand for your existing home, let’s get together to determine how we’ll market the charming details of your present home to potential Monroe County buyers.

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