Even though my main focus for my real estate business is the Bucks County, PA market, I do like to see what is going in real estate across the country. While national trends do not necessarily predict local trends, it is important to stay current on news from the National Association of Realtors (NAR) and other outlets. So, that's why I wanted to share with you an article from NAR that discusses the results of a survey of renters who are thinking about owning a home.
Not surprisingly, 80% of Americans think buying a home makes sense financially. Further, 68% say NOW is a good time to buy. The last time this survey was taken was in 2011 -- with the 2008 market crash still on everybody's mind. Today, we see can increase in people wanting to purchase versus those wanting to rent. Very interesting.
NAR President Gary Thomas gave his take on the survey as well:
Homeownership matters to Americans who consistently realize the many benefits it provides to communities, families and the nation’s economy. Due to high housing affordability and today’s interest rates it makes sense for people to consider homeownership over renting. In fact, in many parts of the country it’s cheaper to own a home than to rent one. Therefore, it’s no surprise that renters recognize that owning a home offers tremendous long-term benefits and is an investment in their future.
So, what do you make of this? I gave a brief overview of the survey results, but I invite you to read the entire article. Let me know what you think in the comments or tweet me @AnnaDomzalski.
If you are currently renting in the Bucks County, PA area and are itching to buy a home, I would be happy to talk to you about all of your real estate needs. Please email me at AnnaDomzalski@kw.com or call me directly at 215-504-2512. This process is about you and helping you decide whether buying a home is right for you.
Photo: The Harwood Group
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