In the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to purchase a house over the next twelve. The report indicates the share of all buyers that will likely be first-time buyers trying to buy a house grew from 58% in This fall 2018 to 63% in Q4 2019.
The results revealed,
“Millennials are the most likely technology to be making plans to buy a house inside a year (19%), adopted by Gen Z (13%) and Gen X (12%)…Potential consumers within the youngest two generations are primarily first-time buyers: 88% of Gen Z consumers and 78% of Millennial buyers are reaching out to homeownership for the primary time in their lives.”
With a high demand from first-time homebuyers and a shortage of inventory in the current Oneida County market, selling your present home this yr could be your finest transfer. Why? As a result of when Oneida County homebuyers begin their search, they’re not all looking for new construction|developments|buildings}. Many are eager to search out somewhat allure and character in a place to name home – probably yours.
In reality, in keeping with the identical research, there’s a vital demand for existing Oneida County properties:
“By way of the type of residence these potential dwelling patrons are thinking about, 40% wish to purchase an present house and 19% a newly-built home. The remaining 41% would purchase both a new or current dwelling.”
With showing activity up among Oneida County buyers and extra new construction coming to the Oneida County market, as a homeowner, you’ve got the chance to list your present house now and move up into a new one, or downsize into a home that better suits your current and ever-changing wants.
Not all Oneida County buyers are searching for a newly constructed home. For those who’re ready to benefit from low mortgage rates and a excessive demand in your present residence, let’s get collectively to find out how we are going to market the charming particulars of your present house to potential Oneida County buyers.