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.