Within the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to purchase a house over the following twelve. The report signifies the proportion of all buyers that will likely be first-time buyers looking to purchase a home grew from 58% in Q4 2018 to 63% in This fall 2019.
The outcomes revealed,
“Millennials are the most probably generation to be planning to buy a house within a 12 months (19%), adopted by Gen Z (13%) and Gen X (12%)…Potential buyers in the youngest two generations are primarily first-time buyers: 88% of Gen Z patrons and 78% of Millennial consumers are reaching out to homeownership for the first time in their lives.”
With a excessive demand from first-time homebuyers and a shortage of inventory within the present Rock County market, selling your present residence this 12 months might be your finest move. Why? Because when Rock County homebuyers start their search, they’re not all looking for new construction|developments|buildings}. Many are keen to search out a little bit charm and character in a place to call house – presumably yours.
In actual fact, in keeping with the same examine, there’s a vital demand for present Rock County homes:
“By way of the type of house these prospective house buyers are thinking about, 40% wish to buy an existing residence and 19% a newly-built home. The remaining 41% would purchase both a new or present house.”
With showing activity up among Rock County buyers and more new developments coming to the Rock County market, as a home-owner, you will have the opportunity to list your existing home now and move up into a brand new one, or downsize into a home that better suits your current and ever-changing needs.
Bottom Line
Not all Rock County buyers are in search of a newly built home. For those who’re able to reap the benefits of low mortgage rates and a excessive demand to your current residence, let’s get together to determine how we will market the charming details of your current house to potential Rock County buyers.