Home Ownership is Alive & Well in Lancaster, PA !

By
Real Estate Agent with KW Elite
https://activerain.com/droplet/5b2V

80% of Lancaster Renters Believe Home Ownership is a Part of Their American Dream

According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream.

The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing that an increase in rent will be the catalyst that pushes them to consider buying a home vs. renewing their lease.

So, what is holding renters back?

80% of Renters Believe Homeownership is a Part of Their American Dream | MyKCM

What would make renters take the plunge?

80% of Renters Believe Homeownership is a Part of Their American Dream | MyKCM

NAR’s Chief Economist, Lawrence Yun believes that,

“Housing demand in 2018 will be fueled by more millennials finally deciding to marry and have kids and the expectations that solid job growth and the strengthening economy will push incomes higher.”

Yun goes on to warn that,

“However, with prices and mortgage rates also expected to increase, affordability pressures will persist. That is why it is critical for much of the country to start seeing a significant hike in new and existing housing supply. Otherwise, many would-be first-time buyers will be forced to continue renting and not reach their dream of being a homeowner.”

Bottom Line

If you are one of the many homeowners whose houses no longer fit their needs and are looking to move up to your dream home, now is a great time to list your starter home! First-time buyers are out in force looking to achieve their American Dream.

 Buyers , your first step is obtaining Mortgage Pre-Approval. Email mikeperrykw@gmail.com  to get started !
 
Posted by

 

Michael J. Perry

KELLER WILLIAMS Elite

www.lancaster4sale.com  

 

1280 Plaza Blvd. , Lancaster, PA 17601

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Longtime West Lampeter resident and Lancaster County Realtor!

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Topic:
Home Buying
Location:
Pennsylvania Lancaster County Lancaster Willow Street
Groups:
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Keller Williams Active Rain Bloggers
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Tags:
interest rates
first time buyers
first home
mortgage rates
qualifying for a mortgage
obtaining a mortgage
rent vs purchase
my first home
west lampeter real estate news
penn manor real estate news
obtaing preapproval
prices head upward

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Rainmaker
3,236,744
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Glad to hear it!  Real estate is almost always a good investment!

Feb 25, 2018 08:03 AM #1
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Home buyers will be in very good hands when they use your professional real estate services.

Feb 25, 2018 08:41 AM #2
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Rainmaker
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Michael J. Perry

Lancaster, PA Relo Specialist
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