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 following twelve. The report indicates the share of all buyers that can be first-time buyers looking to buy a home grew from 58% in This autumn 2018 to 63% in This fall 2019.
The results revealed,
“Millennials are the most definitely generation to be making plans to buy a house within a 12 months (19%), followed by Gen Z (13%) and Gen X (12%)…Prospective buyers within the youngest two generations are primarily first-time patrons: 88% of Gen Z buyers and 78% of Millennial buyers are reaching out to homeownership for the first time of their lives.”
With a high demand from first-time homebuyers and a scarcity of inventory in the present Oconto County market, promoting your present home this year may be your best move. Why? Because when Oconto County homebuyers begin their search, they’re not all looking for new construction|developments|buildings}. Many are eager to seek out a bit of charm and character in a place to name residence – probably yours.
In fact, in keeping with the identical study, there’s a vital demand for present Oconto County properties:
“By way of the kind of house these prospective house consumers are inquisitive about, 40% are looking to purchase an present dwelling and 19% a newly-built residence. The remaining 41% would purchase either a brand new or existing home.”
With showing activity up among Oconto County buyers and extra new construction coming to the Oconto County market, as a homeowner, you have the opportunity to list your existing house now and move up into a new one, or downsize into a home that better suits your current and ever-changing wants.
Bottom Line
Not all Oconto County buyers are on the lookout for a newly constructed house. In case you’re ready to reap the benefits of low mortgage rates and a excessive demand in your present residence, let’s get collectively to determine how we’ll market the charming particulars of your current home to potential Oconto County buyers.