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Washington County First-Time Home Buyers Are Searching for Existing Homes In 2020

Washington County 1st Time Home Buyers Are Looking for Existing Homes In 2020

In the newest 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 share of all buyers that can be first-time buyers looking to buy a home grew from 58% in This autumn 2018 to 63% in This fall 2019.

The results revealed,

“Millennials are the more than likely generation to be making plans to buy a home inside a yr (19%), followed by Gen Z (13%) and Gen X (12%)…Potential patrons in the youngest two generations are primarily first-time patrons:  88% of Gen Z patrons and 78% of Millennial patrons are reaching out to homeownership for the primary time of their lives.”

With a high demand from first-time homebuyers and a shortage of inventory in the current Washington County market, selling your current residence this 12 months is likely to be your greatest transfer. Why? As a result of when Washington County homebuyers start their search, they’re not all on the lookout for new construction|developments|buildings}. Many are keen to seek out somewhat allure and character in a spot to call house – possibly yours.

In actual fact, according to the identical examine, there is a vital demand for current Washington County properties:

“By way of the type of home these prospective home buyers are curious about, 40% are looking to buy an existing house and 19% a newly-built residence. The remaining 41% would buy either a new or existing house.”

With showing activity up among Washington County buyers and more new developments coming to the Washington County market, as a homeowner, you’ve gotten the opportunity to sell your present house now and transfer up into a brand new one, or downsize into a home that better matches your present and ever-changing wants.

Bottom Line

Not all Washington County buyers are looking for a newly built home. In case you’re able 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 details of your present home to potential Washington County buyers.

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