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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!
July 18th, 2019 | Buying Myths, Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, infographic, Millennials, Move-Up Buyers, Is Your First Home Now Within Your Grasp? [INFOGRAPHIC]
ATTOM Data Solutions conducted an analysis of more than 29 million single family home and condo sales over the past eight years to determine the top days to list your home for sale. The top five days to list your home brought in a 10% premium over market value and are all in either May or June! “Families start their home search when they know their kids will be out of school and when the weather is ideal for home viewing and moving, giving home sellers an upper hand in price negotiations.” There is still time to list your home before these dates pass you by!...
Some Highlights: An emerging trend for some time now has been the difference between available inventory and demand in the premium and luxury markets and that in the starter and trade-up markets and what those differences are doing to prices! Inventory continues to rise in the luxury and premium home markets which is causing prices to cool. Demand continues to rise with lower-than-normal inventory levels in the starter and trade-up home markets, causing prices to rise on a year-over-year basis for 85 consecutive months.
Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!
Some Highlights: Existing Home Sales slowed to an annual pace of 5.21 million home sales in March. Low inventory levels are still impacting home sales! The current month’s supply of homes for sale is 3.9-months. Median home prices were up 3.8% over last March at $259,400. This marked the 85thconsecutive month with year-over-year price gains.
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 whatever color they’d like or renovate an outdated part of their livi...