In the newest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to purchase a home over the subsequent 12 months. The report indicates the share of all buyers that shall be first-time buyers trying to purchase a house grew from 58% in This fall 2018 to 63% in This fall 2019.
The results revealed,
“Millennials are the most likely technology to be planning to purchase a home within a yr (19%), followed by Gen Z (13%) and Gen X (12%)…Prospective buyers within the youngest two generations are primarily first-time consumers: 88% of Gen Z consumers and 78% of Millennial buyers are reaching out to homeownership for the primary time of their lives.”
With a excessive demand from first-time homebuyers and a scarcity of inventory within the present Richland County market, promoting your existing home this yr could be your finest move. Why? Because when Richland County homebuyers begin their search, they’re not all searching for new construction|developments|buildings}. Many are eager to seek out slightly charm and character in a place to name dwelling – presumably yours.
The truth is, according to the same study, there is a vital demand for current Richland County houses:
“In terms of the kind of residence these potential house consumers are interested by, 40% are looking to buy an current residence and 19% a newly-built home. The remaining 41% would purchase both a brand new or present dwelling.”
With showing activity up among Richland County buyers and extra new developments coming to the Richland County market, as a home-owner, you’ve the chance to sell your present home now and move up into a brand new one, or downsize into a house that better suits your current and ever-changing needs.
Bottom Line
Not all Richland County buyers are in search of a newly built house. Should you’re able to take advantage of low mortgage rates and a high demand for your present house, let’s get collectively to determine how we are going to market the charming details of your present house to potential Richland County buyers.