Within the newest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to purchase a house over the next 12 months. The report signifies the share of all buyers that might be first-time buyers looking to buy a house grew from 58% in This autumn 2018 to 63% in This autumn 2019.
The results revealed,
“Millennials are the almost definitely era to be making plans to buy a house inside a 12 months (19%), adopted by Gen Z (13%) and Gen X (12%)…Potential consumers within the youngest two generations are primarily first-time patrons: 88% of Gen Z patrons and 78% of Millennial consumers are reaching out to homeownership for the primary time in their lives.”
With a high demand from first-time homebuyers and a scarcity of inventory within the current Racine County market, selling your existing house this yr might be your finest move. Why? Because when Racine County homebuyers begin their search, they’re not all looking for new construction|developments|buildings}. Many are keen to search out a little appeal and character in a spot to call home – possibly yours.
Actually, in accordance with the identical examine, there is a vital demand for existing Racine County homes:
“When it comes to the kind of home these potential house buyers are keen on, 40% want to buy an present home and 19% a newly-built house. The remaining 41% would buy both a brand new or current home.”
With showing activity up among Racine County buyers and extra new construction coming to the Racine County market, as a homeowner, you will have the chance to list your current home now and transfer up into a new one, or downsize into a home that better fits your present and ever-changing needs.
Bottom Line
Not all Racine County buyers are searching for a newly built home. Should you’re ready to make the most of low mortgage rates and a excessive demand on your present home, let’s get collectively to find out how we are going to market the charming particulars of your present house to potential Racine County buyers.