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 percentage of all buyers that can be first-time buyers trying to purchase a home grew from 58% in This fall 2018 to 63% in This fall 2019.
The outcomes revealed,
“Millennials are the most likely generation to be planning to purchase a home within a yr (19%), followed by Gen Z (13%) and Gen X (12%)…Potential buyers 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 first time in their lives.”
With a excessive demand from first-time homebuyers and a scarcity of inventory within the current Polk County market, promoting your present residence this 12 months is perhaps your best move. Why? Because when Polk County homebuyers start their search, they’re not all looking for new construction|developments|buildings}. Many are eager to find a little charm and character in a spot to call dwelling – possibly yours.
The truth is, according to the same research, there is a important demand for present Polk County houses:
“In terms of the type of home these prospective dwelling patrons are excited by, 40% need to buy an current residence and 19% a newly-built house. The remaining 41% would purchase either a new or current residence.”
With showing activity up among Polk County buyers and extra new buildings coming to the Polk County market, as a house owner, you might have the chance to list your present home now and transfer up into a brand new one, or downsize into a home that higher fits your current and ever-changing wants.
Bottom Line
Not all Polk County buyers are on the lookout for a newly constructed home. When you’re able to take advantage of low mortgage rates and a excessive demand for your current home, let’s get together to determine how we’ll market the charming details of your current house to potential Polk County buyers.