Within the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to buy a house over the following twelve. The report indicates the share of all buyers that can be first-time buyers trying to purchase a house grew from 58% in This autumn 2018 to 63% in This autumn 2019.
The outcomes revealed,
“Millennials are the most likely generation to be making plans to buy a house within a year (19%), followed by Gen Z (13%) and Gen X (12%)…Prospective patrons within the youngest two generations are primarily first-time consumers: 88% of Gen Z consumers and 78% of Millennial consumers are reaching out to homeownership for the first time of their lives.”
With a excessive demand from first-time homebuyers and a shortage of inventory within the present Portage County market, selling your present house this 12 months may be your finest move. Why? Because when Portage County homebuyers begin their search, they’re not all searching for new construction|developments|buildings}. Many are keen to search out slightly charm and character in a place to call dwelling – presumably yours.
Actually, based on the same study, there’s a important demand for current Portage County houses:
“By way of the kind of home these potential dwelling consumers are involved in, 40% want to buy an existing house and 19% a newly-built house. The remaining 41% would purchase both a brand new or present residence.”
With showing activity up among Portage County buyers and more new construction coming to the Portage County market, as a home-owner, you may have the chance to list your current home now and move up into a new one, or downsize into a house that higher matches your present and ever-changing wants.
Bottom Line
Not all Portage County buyers are on the lookout for a newly constructed home. For those who’re ready to make the most of low mortgage rates and a excessive demand to your existing residence, let’s get together to find out how we are going to market the charming details of your present home to potential Portage County buyers.