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Is Your First Home Now Within Your Grasp? [INFOGRAPHIC]

Some Highlights: According to the US Census Bureau, “millennials” are defined as 18-36-year-olds. According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 32. More and more “old millennials” (25-36) are realizing that homeownership is within their grasp now!

By |2019-07-12T04:00:08-06:00July 12th, 2019|Buying Myths, Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Millennials, Move-Up Buyers|Comments Off on Is Your First Home Now Within Your Grasp? [INFOGRAPHIC]

Americans’ Powerful Belief in Homeownership as an Investment

The Federal Reserve Bank (The Fed) recently released their 2019  Survey of Consumer Expectations Housing Survey. The survey reported that 65% of Americans believe homeownership is a good financial investment. Since 2014, the percentage has increased by over nine percent.The Fed’s survey also showed that when the results are broken down by age, education, income, or region of the country, more than 55% of Americans in each category see homeownership as a good investment. This coincides with a recent Gallup survey of Americans which revealed [...]

By |2019-07-11T04:00:33-06:00July 11th, 2019|Baby Boomers, Demographics, First Time Home Buyers, For Buyers, For Sellers, Generation X, Housing Market Updates, Millennials, Move-Up Buyers|Comments Off on Americans’ Powerful Belief in Homeownership as an Investment

Millennials Are Increasing the Demand for Condominiums

When deciding to buy a home, people are presented with many different options. The type of home you buy depends on your needs, budget, and in many cases, the desired maintenance level. For many millennials, their choice has been buying a condominium! According to CoreLogic, “Last year about 43% of all condo home-purchase mortgage applications were submitted by FTHBs… Similarly, the data show condos were more popular with young homebuyers and empty nesters. For instance, 21% of all condo home-purchase mortgage applications were submitted by [...]

By |2019-07-02T04:00:53-06:00July 2nd, 2019|Buying Myths, Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Millennials, Move-Up Buyers, Rent vs. Buy|Comments Off on Millennials Are Increasing the Demand for Condominiums

Americans Rank Real Estate Best Investment for 6 Years Running! [INFOGRAPHIC]

Some Highlights: Real estate has outranked stocks/mutual funds, gold, savings accounts/CDs, and bonds as the best long-term investment among Americans for the last 6 years. Stock owners are more positive about real estate than stocks as an investment. Of the 4 listed, real estate is the only investment you can also live in!

By |2019-06-28T04:00:40-06:00June 28th, 2019|Baby Boomers, Demographics, First Time Home Buyers, For Buyers, For Sellers, Generation X, Housing Market Updates, Infographics, Millennials, Move-Up Buyers|Comments Off on Americans Rank Real Estate Best Investment for 6 Years Running! [INFOGRAPHIC]

Young First-Time Buyers Are Saving for Their Dream Homes

Young buyers (Millennials & Gen Z) have waited longer than previous generations to enter the housing market for their first home. However, this hasn’t stopped them from dreaming about the home they will eventually buy. Many spend hours searching listings and building Pinterest boards of their favorite home features. According to a survey from Open Listings, 70% of single renters are more likely to spend their Sunday nights swiping through house listings than dating profiles. All that time window shopping has led 45% of millennials [...]

By |2019-06-20T04:00:56-06:00June 20th, 2019|Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Millennials, Move-Up Buyers, Rent vs. Buy|Comments Off on Young First-Time Buyers Are Saving for Their Dream Homes

Multigenerational Homes Are on the Rise

As loved ones start to get older, we start to wonder: how long will they be able to live alone? Will they need someone there to help them with daily life? There’s a reason to ask those questions now more than ever, as the average life expectancy in the U.S. is 78 years old!  As a result, 41% of Americans in the market are searching for a home that can accommodate a multigenerational family. The graph below shows the number of people by generation that [...]

By |2019-05-29T04:00:04-06:00May 29th, 2019|Baby Boomers, Demographics, First Time Home Buyers, For Buyers, For Sellers, Generation X, Housing Market Updates, Millennials, Move-Up Buyers, Senior Market|Comments Off on Multigenerational Homes Are on the Rise

What Would Make You Sell Your House?

There are many reasons why a homeowner decides to sell their house and move. The latest Generational Trends Report from the National Association of Realtors asked recent home sellers to share their reason for moving. The younger the respondents, the more likely their top response centered around needing a larger home (ages 29 to 53). Relocating for a job was the top reason for those ages 54 to 63 and the second most popular response for those under 53. The chart below shows the breakdown [...]

By |2019-04-30T04:00:31-06:00April 30th, 2019|Baby Boomers, Demographics, First Time Home Buyers, For Buyers, For Sellers, Generation X, Housing Market Updates, Millennials, Move-Up Buyers, Senior Market|Comments Off on What Would Make You Sell Your House?

New Study Reveals One Surprising Reason for the Inventory Shortage

There has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim millennials don’t want to own a home, blaming them for the dip in homeownership rate. While it is true that millennials have achieved milestones like getting married, having kids, and buying homes later in life than their parents and grandparents did, they are not solely to [...]

By |2019-04-24T04:00:53-06:00April 24th, 2019|Baby Boomers, Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Millennials, Move-Up Buyers, Senior Market|Comments Off on New Study Reveals One Surprising Reason for the Inventory Shortage

With Inventory Low: Will Your Dream Home Need Some TLC?

According to a new survey from Move.com, the wave of first-time homebuyers hitting the market this summer has resulted in an interesting statistic. Nearly 60% of buyers searching for a home this spring are willing to consider buying a fixer-upper, with 95% believing that the projects needed will increase their new home’s value! Realtor.com’s Chief Economist, Danielle Hale, pointed to low-inventory at the entry-level price range for the increase in willingness to renovate. “The combination of rising home prices and limited entry-level homes for sale [...]

By |2019-04-23T04:00:16-06:00April 23rd, 2019|Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Millennials, Move-Up Buyers|Comments Off on With Inventory Low: Will Your Dream Home Need Some TLC?

5 Reasons Why Millennials Buy a Home [INFOGRAPHIC]

Some Highlights: “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.” The top reason millennials choose to buy is to have control over their living space, at 93%. Many millennials who rent a home or apartment prior to buying their own homes dream of the day when they will be able to paint the walls [...]

By |2019-04-19T04:00:34-06:00April 19th, 2019|First Time Home Buyers, For Buyers, For Sellers, Infographics, Millennials, Move-Up Buyers|Comments Off on 5 Reasons Why Millennials Buy a Home [INFOGRAPHIC]