In the newest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to buy a home over the subsequent 12 months. The report signifies the proportion of all buyers that shall be first-time buyers seeking to purchase a home grew from 58% in Q4 2018 to 63% in This autumn 2019.
The results revealed,
“Millennials are the almost definitely era to be planning to purchase a home inside a year (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 buyers 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 Pierce County market, selling your present dwelling this year could be your best move. Why? Because when Pierce County homebuyers start their search, they’re not all in search of new construction|developments|buildings}. Many are keen to seek out just a little attraction and character in a spot to name residence – possibly yours.
In fact, in keeping with the same examine, there’s a vital demand for current Pierce County properties:
“In terms of the kind of dwelling these potential house buyers are thinking about, 40% wish to buy an present house and 19% a newly-built home. The remaining 41% would purchase both a new or present house.”
With showing activity up among Pierce County buyers and extra new developments coming to the Pierce County market, as a homeowner, you might have the chance to list your existing home now and transfer up into a brand new one, or downsize into a house that higher suits your present and ever-changing needs.
Bottom Line
Not all Pierce County buyers are searching for a newly constructed home. In the event you’re ready to reap the benefits of low mortgage rates and a excessive demand in your existing home, let’s get together to determine how we’ll market the charming details of your current house to potential Pierce County buyers.