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 following twelve. The report indicates the proportion of all buyers that can be first-time buyers trying to buy a house grew from 58% in Q4 2018 to 63% in Q4 2019.
The results revealed,
“Millennials are the probably technology to be planning to purchase a home within a year (19%), followed by Gen Z (13%) and Gen X (12%)…Potential buyers in the youngest two generations are primarily first-time patrons: 88% of Gen Z consumers and 78% of Millennial consumers are reaching out to homeownership for the first time of their lives.”
With a high demand from first-time homebuyers and a shortage of inventory in the current Walworth County market, promoting your existing residence this 12 months may be your greatest move. Why? As a result of when Walworth County homebuyers begin their search, they’re not all on the lookout for new construction|developments|buildings}. Many are keen to find a little attraction and character in a place to name house – possibly yours.
The truth is, in accordance with the same study, there is a vital demand for current Walworth County houses:
“In terms of the kind of home these prospective house patrons are enthusiastic about, 40% are looking to buy an present house and 19% a newly-built dwelling. The remaining 41% would buy both a brand new or present house.”
With showing activity up among Walworth County buyers and more new construction coming to the Walworth County market, as a home-owner, you have got the opportunity to list your current house 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 Walworth County buyers are looking for a newly constructed house. In the event you’re ready to benefit from low mortgage rates and a excessive demand to your existing house, let’s get collectively to find out how we are going to market the charming particulars of your present house to potential Walworth County buyers.