In the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to purchase a house over the subsequent 12 months. The report indicates the percentage 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 fall 2019.
The results revealed,
“Millennials are the most certainly generation to be planning to buy a house inside a 12 months (19%), followed by Gen Z (13%) and Gen X (12%)…Prospective consumers in the youngest two generations are primarily first-time consumers: 88% of Gen Z buyers and 78% of Millennial consumers are reaching out to homeownership for the first time in their lives.”
With a high demand from first-time homebuyers and a shortage of inventory in the present Taylor County market, promoting your existing dwelling this yr is perhaps your greatest transfer. Why? Because when Taylor County homebuyers start their search, they’re not all on the lookout for new construction|developments|buildings}. Many are eager to search out a bit appeal and character in a spot to call dwelling – probably yours.
In reality, in line with the same examine, there is a important demand for current Taylor County properties:
“By way of the type of residence these prospective residence patrons are fascinated with, 40% are looking to purchase an current house and 19% a newly-built home. The remaining 41% would buy either a new or present house.”
With showing activity up among Taylor County buyers and extra new construction coming to the Taylor County market, as a homeowner, you’ve got the opportunity to sell your existing home now and transfer up into a new one, or downsize into a house that higher fits your current and ever-changing wants.
Bottom Line
Not all Taylor County buyers are on the lookout for a newly built house. In case you’re able to make the most of low mortgage rates and a excessive demand for your existing residence, let’s get collectively to find out how we will market the charming details of your current home to potential Taylor County buyers.