First-Time Buyers Are Searching for Existing Homes This Year

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Real Estate Agent with REMAX Realty Group Lic. # SL3154233

First-Time Buyers Are Searching for Existing Homes This Year

In the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to buy a home over the next 12 months. The report indicates the percentage of all buyers that will be first-time buyers looking to purchase a home grew from 58% in Q4 2018 to 63% in Q4 2019.

The results revealed,

“Millennials are the most likely generation to be making plans to purchase a home within a year (19%), followed by Gen Z (13%) and Gen X (12%)…Prospective buyers in the youngest two generations are primarily first-time buyers:  88% of Gen Z buyers and 78% of Millennial buyers are reaching out to homeownership for the first time in their lives.”

With a high demand from first-time homebuyers and a shortage of inventory in the current market, selling your existing home this year might be your best move. Why? Because when homebuyers begin their search, they’re not all looking for new construction. Many are eager to find a little charm and character in a place to call home – possibly yours.

In fact, according to the same study, there is a significant demand for existing homes:

“In terms of the type of home these prospective home buyers are interested in, 40% are looking to buy an existing home and 19% a newly-built home. The remaining 41% would buy either a new or existing home.”

With showing activity up among buyers and more new construction coming to market, as a homeowner, you have the opportunity to sell your existing house now and move up into a new one, or downsize into a home that better fits your current and ever-changing needs.

Bottom Line

Not all buyers are looking for a newly built house. If you’re ready to take advantage of low mortgage rates and a high demand for your existing home, reach out to your local real estate professional: Abby Stiller who can help you market the charming details of your current house to potential buyers.

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Abby Stiller 

Realtor® Lic. #3154233    

12 Years of Experience

RE/MAX Realty Group    Cape Coral Fort Myers Naples  Realtor Cape Coral      

 

I help Home buyers find their dream home & Homeowners sell for more. Thinking of buying or selling? Call/Text me: 239-284-8637   Your Honest & Dedicated Realtor!

or visit: www.TeamStiller.com

 

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Topic:
Home Selling
Location:
Florida Lee County Cape Coral
Tags:
home sellers
moving to fl
rsw
millennials
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Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Abby,  I have to agree, this is the year first time buyers will be out to buy.  Make it a great day!

 

Jan 28, 2020 09:39 AM #1
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Inventory is low and demand is high so those looking to sell their existing home in Lee and Collier county should give you a call Abby!

Jan 28, 2020 01:52 PM #2
Rainmaker
503,183
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Hello Will Hamm Indeed buyers looking to move this year should highly consider buying instead of renting. 

Feb 03, 2020 02:24 PM #3
Rainmaker
503,183
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Thank you !!! and Yes, Yes Debe Maxwell, CRS we have a short inventory in the area, so all those thinking of selling this year should make a move soon! 

Feb 03, 2020 02:26 PM #4
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Abby Stiller

Professional Bilingual Realtor (239) 284-8637
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