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If you’re considering selling your house, timing is crucial. You want to list your home at a time when it will receive the most attention and interest from potential buyers. If you’re thinking about selling this spring, it’s time to get moving – the best week to list your house is fast approaching.
Experts at realtor.com looked at seasonal trends from recent years (excluding 2020 as an uncharacteristic year due to the onset of the pandemic) and determined the ideal week to list a house this year:
“Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2023 is approaching quickly. The week of April 16-22 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.”
If you’ve been waiting for the best time to sell, this is your chance. But remember, before you put your house on the market, you’ve got to get it ready. And if you haven’t started that process yet, you’ll need to move quickly. Here’s what you should keep in mind.
Start by prioritizing which updates you’ll make. In February, realtor.com asked more than 1,200 recent or potential home sellers what updates they ended up making to their house before listing it (see graph below):
As you can see, the most common answers included landscaping and painting. Work with a trusted real estate agent to determine what projects make the most sense for your goals and local market.
Once you’ve made any necessary repairs and updates to your house, consider having it staged. According to the National Association of Realtors (NAR), 82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home. Additionally, almost half of buyers’ agents said home staging had an effect on most buyers’ view of the home in general. Homes that are staged typically sell faster and for a higher price because they help potential buyers more easily picture their new life in the house.
These are several advantageous factors for sellers looking to list their homes, including spring weather and the availability of tax refunds. These reasons contribute to why the upcoming week is an optimal time to put your home on the market.
April is typically when spring is in full swing across most of the country. The weather is getting warmer, the trees and flowers are blooming, and people are starting to spend more time outside. This means that more buyers will be out and about, searching for their next home. By listing your home in April, you’re taking advantage of this increased activity and maximizing your exposure to potential buyers.
While you’ll have more options for your own home search, inventory is still low, and that means your home will still be in demand if you price it right. That’s why the most recent data from NAR also shows the average home sold in July still saw multiple offers and sold in as little as 14 days.
Many people receive their tax refunds in April, which can provide them with a little extra money to put towards a down payment or closing costs. This can be a powerful incentive for buyers who have been on the fence about purchasing a home. By listing your home in April, you’re capitalizing on this influx of cash and making it easier for buyers to make a move.
For families with school-age children, the end of the school year is just around the corner in April. This means that parents who are looking to move before the next school year starts will be actively searching for a new home. By listing your home in April, you’re ensuring that it’s available to these families at the exact time they need it.
While spring is a popular time to list a home, many sellers wait until May or June to put their homes on the market. This means that in April, you’ll have less competition from other sellers, giving you a better chance of standing out and getting your home sold quickly.
By taking advantage of the increased activity and incentives of the spring season, you can maximize your exposure to potential buyers and increase your chances of selling your home quickly and for a good price.
If you’re considering selling your home this spring, it’s important to start preparing as soon as possible. Begin by making a checklist of what your house needs to get ready for the market and work with a trusted real estate professional to prioritize and execute your plan of action.
Contact me today to get started and take advantage of my expertise and experience to help you achieve your real estate goals. Together, we can prioritize your goals and create a personalized plan to ensure a successful sale of your home this spring.
Article Source: www.keepingcurrentmatters.com
A lot has changed over the past year, and you might be wondering what’s in store for the spring housing market. If you’re planning to sell your house this season, here’s what real estate experts are saying you should keep in mind.
Houses that are updated and priced at their current market value are still selling. Jeff Tucker, Senior Economist at Zillow, says:
“. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”
The need to price your house right is so important today because the market has changed so much over the past year. Danielle Hale, Chief Economist at realtor.com, explains:
“With a smaller pool of buyers today and more competition from other homes on the market, homesellers will likely need to adjust their price expectations in the market this spring.”
While this spring housing market is different than last year’s, sellers with proper expectations who lean on a real estate expert for the best advice on pricing their house well are still finding success. And that’s great news if you’re thinking about selling.
As mortgage rates have risen and remain volatile, some buyers have pressed pause on their plans. But there are still plenty of reasons people are buying homes today. Lisa Sturtevant, Chief Economist at Bright MLS, spells out the mindset of today’s buyers:
“For some buyers, higher mortgage rates simply means buying a home is out of the question unless home prices fall. For others, higher mortgage rates will be a hurdle but ultimately will not keep them from getting back into the market after sitting on the sidelines for months.”
That’s why, if you’re interested in selling your house this spring, it’s helpful to work with a real estate agent who can help connect you with those buyers who are ready to purchase a home.
Here are some tips on how to prepare your home for a successful spring sale:
The first step in preparing your home for a successful sale is to declutter and deep clean your home. Remove any unnecessary items from your home, and clean all surfaces thoroughly. A clean and decluttered home will help potential buyers see the potential of your home.
Before you put your home on the market, take care of any small repairs that need to be done. Fix any leaky faucets, patch any holes in the walls, and replace any burnt-out light bulbs. These small repairs will help your home look well-maintained and move-in ready.
Staging your home can make a big difference in how potential buyers view your home. You don’t have to hire a professional stager to stage your home, but you should consider rearranging your furniture to make your rooms appear more spacious. Additionally, add some decorative touches to make your home feel warm and inviting.
First impressions are essential, so make sure that your home’s exterior looks its best. Clean your home’s exterior, trim any overgrown bushes or trees, and add some potted plants or flowers to your front porch. A well-maintained exterior will entice potential buyers to come inside.
Finally, when you’re ready to sell your home, hire a reputable real estate agent. A good agent will help you price your home correctly, market your home effectively, and negotiate with potential buyers. They will also handle all of the paperwork and legalities involved in selling your home.
There are still clear opportunities for sellers this spring. If you’re wondering if it’s the right time to make a move, connect with me today.
Article Source: www.keepingcurrentmatters.com
As the weather starts to warm up, the spring selling season is just around the corner. If you’re planning to sell your home, it’s important to start preparing now to ensure that your home is in top shape and ready to attract potential buyers. From cleaning and decluttering to making necessary repairs and investing in professional staging, here are several steps you can take to make your home more appealing and competitive in the market.
When it comes to selling your home, one of the most important things you can do is ensure that it’s clean and well-maintained. A clean home can make a positive first impression on potential buyers, highlight the home’s features, and even potentially lead to a higher sale price.
A clean home can help create a positive first impression for potential buyers. When a buyer walks into a clean and tidy home, they’re more likely to feel welcomed and impressed. On the other hand, a dirty or cluttered home can turn buyers off and make them less likely to make an offer.
Finally, a clean home can potentially lead to a higher sale price. When a home is well-maintained and in good condition, buyers may be willing to pay more for it. In fact, a study by the National Association of Realtors found that a deep cleaning can add an average of $1,700 to the sale price of a home.
To deep clean your home, it’s important to create a cleaning schedule and tackle one room at a time. Start by decluttering and removing any items that you no longer need or want. Then, focus on high-traffic areas such as the living room, kitchen, and bathrooms. Clean carpets and floors, and make sure appliances and fixtures are spotless. Don’t forget to pay attention to small details such as baseboards, light fixtures, and windows. You can increase your chances of making a positive first impression, highlighting your home’s features, and potentially even getting a higher sale price.
Decluttering involves removing any unnecessary items from your home, while depersonalizing involves removing personal touches such as family photos or personalized decor. While it may seem daunting to remove items that are important to you, there are several reasons why decluttering and depersonalizing is important.
Decluttering and depersonalizing is important when it comes to selling your home. By removing excess clutter and personal items, you can create a space that’s more appealing to potential buyers and highlights the home’s features.
Making repairs can increase the value of your home and make it more attractive to potential buyers. Minor repairs, such as fixing leaky faucets or replacing broken tiles, can make a big difference in the overall appeal of your home.
In addition to increasing the value of your home, making repairs can also prevent potential buyers from being scared off by any major issues that may arise during a home inspection. By taking care of repairs ahead of time, you can ensure that your home is in the best possible condition before it goes on the market.
The exterior of your home is the first thing that potential buyers will see, so it’s important to make a good impression. Enhancing your home’s curb appeal can make a big difference in attracting potential buyers and making your home stand out from the rest. Here are a few tips for enhancing curb appeal:
● Keep the lawn and landscaping well-maintained: A well-manicured lawn and tidy landscaping can make a big difference in your home’s appearance. Regularly mowing the lawn, trimming hedges, and planting colorful flowers can create a welcoming and attractive exterior.
● Make necessary repairs: Peeling paint, cracked sidewalks, and broken gutters can detract from your home’s curb appeal. Taking care of necessary repairs can help ensure that your home looks its best.
● Add outdoor lighting: Outdoor lighting can add both functionality and aesthetics to your home’s exterior. Consider adding solar-powered lights along walkways or installing outdoor sconces to highlight your home’s architectural features.
● Upgrade your front door: Your front door is the focal point of your home’s exterior, so it’s important to make it look its best. Consider painting your front door a bold color, installing new hardware, or even replacing the door altogether.
● Add decorative accents: Adding decorative accents, such as a wreath on the front door or potted plants on the porch, can add personality and charm to your home’s exterior.
By following these tips, you can enhance your home’s curb appeal and make a great first impression on potential buyers.
Staging can help set your home apart from the competition. In a crowded real estate market, it’s important to make your home stand out from the rest. By investing in staging, you can create a unique and memorable experience for potential buyers and increase your chances of receiving offers quickly.
Overall, staging is an important part of selling a home. By creating an inviting and appealing atmosphere, staging can help potential buyers envision themselves living in the space and can make your home more competitive in the market.
Preparing your home for the spring selling season can make a big difference in attracting potential buyers and securing a successful sale. By following these tips, you can ensure that your home is in top shape and ready to make a great first impression. From cleaning and decluttering to making necessary repairs and investing in professional staging, each step plays an important role in creating an inviting and appealing atmosphere for potential buyers. So, take the time to prepare your home for the spring selling season and increase your chances of a successful sale. Good luck!
To sell your home this spring, it may need more preparation than it would have a year or two ago. Today’s housing market has a different feel. There are more homes for sale than there were at this time last year, but inventory is still historically low. So, if a house has been sitting on the market for a while, that’s a sign it may not be hitting the mark for potential buyers. But here’s the thing. Right now, homes that are updated and priced at market value are still selling fast.
Today, homes with curb appeal that are presented well are still selling quickly, and sometimes over asking price. According to Danielle Hale, Chief Economist at realtor.com:
“In a market where costs are still high and buyers can be a little choosier, it makes sense they’re going to really zero in on the homes that are the most appealing.”
With the spring buying season just around the corner, now’s the time to start getting your house ready to sell. And the best way to determine where to spend your time and money is to work with a trusted real estate agent who can help you understand which improvements are most valuable in your local market.
One way to prioritize updates that could bring a good return on your investment is to find smaller projects you can do yourself. Little updates that boost your curb appeal usually work well. Investopedia puts it this way:
“Curb-appeal projects make the property look good as soon as prospective buyers arrive. While these projects may not add a considerable amount of monetary value, they will help your home sell faster—and you can do a lot of the work yourself to save money and time.”
Small cosmetic updates, like refreshing some paint and power washing the exterior of your home, create a great first impression for buyers and help it stand out. Work with a real estate professional to find the low-cost projects you can tackle around your house that will appeal to buyers in your area.
When deciding what you need to do to your house before selling it, remember you’re making these repairs and updates for someone else. Prioritize projects that will help you sell faster or for more money over things that appeal to you as a homeowner.
The 2022 Remodeling Impact Report from the National Association of Realtors (NAR) highlights popular home improvements and what sort of return they bring for the investment (see graph below):
Remember to lean on your trusted real estate advisor for the best advice on the updates you should invest in. They’ll know what local buyers are looking for and have the latest insights of what your house needs to sell quickly this spring.
Now is the time to take action and get your house ready for sale. The real estate market is heating up and buyers are looking for homes that meet their needs. Don’t miss out on this opportunity to sell your home. Connect me today. I can provide you with expert guidance on which updates will have the biggest impact on your home’s curb appeal. You can make sure your home is ready to sell when the time comes.
Article Source: www.keepingcurrentmatters.com
Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s rates have started coming down from last year’s peak, they’re still higher than they were a couple of years ago.
Today, 93% of outstanding mortgages have a rate at or below 6%. That means a strong majority of homeowners with mortgages have a rate below what they’d get if they moved right now. But if you’re a homeowner in that position, remember that mortgage rates aren’t the only thing to consider when making a move. Your mortgage rate is important, but there are plenty of reasons you may still need or want to move. RealTrends explains:
“Sellers who don’t have to move won’t be moving. The most common sellers will be: Homeowners downsizing . . . people moving to get more space, [households] looking for better schools…etc.”
So, if you’re on the fence about selling your house, consider the other reasons homeowners are choosing to make a move. A recent report from the National Association of Realtors (NAR) breaks down why homeowners have decided to sell over the past year:
As the visual shows, the most commonly cited reasons for selling were the desire to move closer to loved ones, followed by moving due to retirement, and their neighborhood becoming less desirable. Additionally, the need for more space factored in, as did a change in household structure.
If you also find yourself wanting a change in location or needing space your current house just can’t provide, it may be time to sell.
What you want and need in a home can be reason enough to move. To find out what’s right for you, work with a trusted real estate professional who will offer advice and expert guidance throughout the process. They’ll be able to lay out all your options – giving you what you need to make a confident decision.
When deciding whether or not to move, you have a lot to consider. There are plenty of non-financial reasons to factor in. Connect with me today I can help you weigh the benefits of selling your house.
Article Source: www.keepingcurrentmatters.com
There are plenty of good reasons you might be ready to move. No matter your motivations, before you list your current house, you need to consider where you’ll go next.
In today’s market, it makes sense to explore all your options. That includes both homes that have been lived in before as well as newly built ones. To help you decide which is right for you, let’s compare the benefits of each. Regardless of which option you choose to explore, working with a trusted real estate professional throughout the process is essential.
First, let’s look at the benefits of purchasing a newly constructed home. With a brand-new house, you’ll be able to:
If you build a home from the ground up, you’ll have the option to select the custom features you want, including appliances, finishes, landscaping, layout, and more. Bankrate puts it like this:
“Building means customizing. . . . instead of wishing your home had a certain kind of flooring, a sunroom or some other special amenity, you’ll be able to tailor the property to your exact needs. You also won’t be limited to a specific location or neighborhood.”
In today’s market, a lot of home builders are working hard to sell their current inventory before they add more to their mix. That means many of them are offering concessions and are more willing to negotiate with buyers. That could work to your advantage in the process.
Many builders offer a warranty, so you’ll have peace of mind on unlikely repairs. Plus, you won’t have as many little improvement projects to tackle. As realtor.com says:
“. . . if something goes wrong with your new home, not only are there likely some manufacturer warranties in place, but many builders also include additional home warranties . . .”
When building a home, you can choose brand-new, energy-efficient options to help lower your utility costs, protect the environment, and reduce your carbon footprint.
Now, let’s compare those to the perks that come with buying an existing home. With a pre-existing home, you can:
With decades of homes to choose from, you’ll have a broader range of floorplans and designs available.
The character of older homes is hard to reproduce. If you value timeless craftsmanship or design elements, you may prefer an existing home.
Existing homes give you the option to get to know the neighborhood, community, or traffic patterns before you commit. Plus, they have more developed landscaping and trees, which can give you additional privacy and curb appeal.
If you have a short timeframe to move or you just don’t want the process to take several months while your home is under construction, buying an existing home might make sense for you. U.S. News explains:
“When you’re choosing a home, existing or new, you should also consider how long it might take to move into that home. Just because you have a contract doesn’t mean that your new home will be completed (or even started) at the time you agree to the purchase. It can be a struggle waiting for the walls to go up as you wonder what your home will become.”
When thinking about where you’ll go after you sell your house, remember your options. As you start your search, think about what’s most important to you. By working with a trusted real estate agent, you can be confident you’re making the most educated, informed decision.
If you have questions about the options in your area, connect with me to discuss what’s available and what’s right for you.
Article Source: www.keepingcurrentmatters.com
A new year brings with it the opportunity for new experiences. If that resonates with you because you’re considering making a move, you’re likely juggling a mix of excitement over your next home and a sense of attachment to your current one.
A great way to ease some of those emotions and ensure you’re feeling confident in your decision is to keep these three best practices in mind.
The housing market shifted in 2022 as mortgage rates rose, buyer demand eased, and the number of homes for sale grew. As a seller, you’ll want to recognize things are different now and price your house appropriately based on where the market is today. Greg McBride, Chief Financial Analyst at Bankrate, explains:
“Price your home realistically. This isn’t the housing market of April or May, so buyer traffic will be substantially slower, but appropriately priced homes are still selling quickly.”
If you price your house too high, you run the risk of deterring buyers. And if you go too low, you’re leaving money on the table. An experienced real estate agent can help determine what your ideal asking price should be.
Today, homeowners are living in their houses longer. According to the National Association of Realtors (NAR), since 1985, the average time a homeowner has owned their home has increased from 5 to 10 years (see graph below):
This is several years longer than what used to be the historical norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. If it’s the first home you bought or the house where your loved ones grew up, it very likely means something extra special to you. Every room has memories, and it’s hard to detach from the sentimental value.
For some homeowners, that makes it even harder to negotiate and separate the emotional value of the house from fair market price. That’s why you need a real estate professional to help you with the negotiations along the way.
While you may love your decor and how you’ve customized your home over the years, not all buyers will feel the same way about your design. That’s why it’s so important to make sure you focus on your home’s first impression so it appeals to as many buyers as possible. As NAR says:
“Staging is the art of preparing a home to appeal to the greatest number of potential buyers in your market. The right arrangements can move you into a higher price-point and help buyers fall in love the moment they walk through the door.”
Buyers want to envision themselves in the space so it truly feels like it could be their own. They need to see themselves inside with their furniture and keepsakes – not your pictures and decorations. A real estate professional can help you with tips to get your house ready to sell.
If you’re considering selling your house, reach out to me to help you navigate through the process while prioritizing these best practices.
Article Source: www.keepingcurrentmatters.com
The holidays are quickly approaching, and contrary to popular belief, this is still a popular time to purchase a home. Indeed, many buyers are under additional pressure to close quickly at this time of year. Holiday home buyers are frequently looking to start a new job or secure financing before the end of the year for tax purposes. Others may have been waiting for a change in mortgage rates that did not occur over the summer, while the rest may simply want to move in before the cold weather arrives.
You don’t have to wait until the warmer months to list your home for whatever reason. However, if you do decide to sell during the holidays, there are a few rules to follow, particularly when it comes to one of the best parts of the season: decorations. Let’s look at the reasons why decorating your home when selling during the holidays can help it sell and some do’s and don’ts to keep in mind this holiday season when your home is on the market:
If your home is well decorated when selling during the holidays, without going too far, it will be more appealing to home buyers. There is something magical about festive decorations for children, and sometimes for adults as well.
A home that is decorated will be more inviting and will make buyers more likely to want to look around. Since the home is more appealing, there should be a greater chance that you receive offers.
Homebuyers want to imagine themselves living in your home, and a beautifully decorated home for the holidays looks very inviting. It will be cozier and seem like a nicer place to live. They should also be able to easily imagine their family and friends enjoying festivities in the home.
Decorating when selling during the holidays, isn’t going to be as easy as most other years. But if you keep it simpler than you usually would, it should be less difficult. Try to coordinate the decorations with the look of the home without doing too much.
You should also make sure your home is decluttered when decorating for the holidays. This will further make it easier for buyers to see themselves living in the home.
Decluttering is something you should do at whatever time of the year you are selling your home. It will make the home look better when it’s photographed for the property listings, and look tidier for showings. Since you are going to have to pack everything up for your move, you will need to deal with all the stuff in your home anyway. Decluttering your home and getting rid of things you no longer need, will make packing easier as well.
If you don’t bother with decorations because you are preparing to move, it could give a negative impression to potential buyers.
Buyers will expect homes they tour during the holidays to have decorations, and other properties they see will have them. If your home isn’t decorated, buyers may not like your home as much compared to the other homes they have seen.
And if every other home on the street is decorated, your home will not only look out of place, it may appear strange to buyers. You never want your home to look dull compared to your neighbors when selling.
If you don’t have a tradition of decorating your house in your family, either for religious or other reasons, check with your Realtor for their advice on what you should do.
If your festive decorations enhance your home, a buyer could find a personal connection to your home. This will increase the chances of them making an offer. Emotional connections can actually be as important as the features or the layout of the home to help you find a buyer.
• Do complete a deep cleaning of your home before decorating and make sure to dust off and clean your decorations as well.
• Do keep your home elegant when decorating it for the holidays is to stick to a neutral color palette
• Do use warm scents like cinnamon, peppermint, pumpkin, pine, and apple to make your home feel more cozy.
• Don’t overdo it; your house will look cluttered and smaller
• Don’t use large and gaudy decorations or put up a Christmas tree that will make your space feel smaller.
• Don’t put out decorations with specific religious themes so not to detract buyers of other religions.
Decorations can make buyers more attracted to the idea of living in your home, making buying the home a more appealing prospect. If you don’t have festive decor, your home will look out of place compared to your neighbors and the other homes buyers have been looking at. So make sure to keep this in mind when selling a home during the holidays.
Decorating your home when you are selling during the holidays will ultimately improve how easy your home is to sell. There are top ways staging your home can attract buyers, make a connection, and it might even cheer you up at the same time.
Each year, homeowners planning to make a move are faced with a decision: sell their house during the holidays or wait. And others who have already listed their homes may think about removing their listings and waiting until the new year to go back on the market.
The truth is many buyers want to purchase a home for the holidays, and your house might be just what they’re looking for. Here are five great reasons you shouldn’t wait to sell your house.
1. While the supply of homes for sale has increased this year, there still aren’t enough homes on the market to keep up with buyer demand. As Nadia Evangelou, Senior Economist & Director of Forecasting at the National Association of Realtors (NAR), explains:
“There’s still this gap between demand and supply because we were underbuilding for many years. . . . So now we see demand is slowing, but it still outpaces supply.”
2. Serious homebuyers are out looking right now. Millennials are driving homebuying demand today, and many are eager to make a purchase. Mark Fleming, Chief Economist at First American, explains:
“While not the frenzy of 2021, the largest living generation, the Millennials, will continue to age into their prime home-buying years, creating a demographic tailwind for the housing market.”
3. The desire to own a home doesn’t stop during the holidays. In fact, homes decorated for the holidays appeal to many buyers. Plus, purchasers who look for homes during the holidays are ready to buy.
4. You can restrict the showings in your house to days and times that are most convenient for you. That can help you minimize disruptions, which is especially important this time of year.
5. Rents have skyrocketed in recent years. And, many buyers are looking to escape rising rents and avoid falling into the rental trap for another year. As an article from Zillow says:
“Over the next 12 months, rents are expected to grow more than inflation, the stock market and home values.”
Your home could be their ticket to leaving renting behind for good.
There are still many reasons it makes sense to list your house during the holiday season. Reach out to me to determine if selling now is your best move.
Article Source: www.keepingcurrentmatters.com
If you’re thinking about selling your house but wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what they’re looking for.
While the millennial generation has been dubbed the renter generation, that namesake may not be appropriate anymore. Millennials, the largest generation, are actually a significant driving force for buyer demand in the housing market today. Here’s why.
While there’s no denying higher mortgage rates are making it more challenging to afford a home today, many millennials are still eager and able to buy homes – whether it’s their first or they’re moving up. That’s in large part because of the value they place on education.
A recent article from First American says millennials may be the most educated generation in our nation’s history. Because of that, they tend to earn higher wages, and that translates to greater homebuying power. Odeta Kushi, Deputy Chief Economist at First American, explains:
“In 2020, millennials with a bachelor’s degree had a median household income of over $100,000, while those with at least a graduate degree had a median household income of over $120,000. Compare those income levels with the median household income of millennials with just a high school degree (or some college) of $60,000 and the earning power benefits of higher education are undeniable. . . . Millennials’ pursuit of higher education is good news for the housing market. . . because education is the key to unlock both greater earning power and, in turn, homeownership.”
And since wages are one of the key things that factor into affordability when it comes to buying a home, these higher earnings can help millennials achieve their homeownership goals.
A number of studies have looked into how the millennial generation views homeownership and how they’re uniquely positioned to define the housing market moving forward. As the largest generation, the volume of potential millennial homebuyers will have an impact on the market for years to come. As an article in Forbes explains:
“At about 80 million strong, millennials currently make up the largest share of homebuyers (43%) in the U.S., according to a recent National Association of Realtors (NAR) report. Simply due to their numbers and eagerness to become homeowners, this cohort is quite literally shaping the next frontier of the homebuying process. Once known as the ‘rent generation,’ millennials have proven to be savvy buyers who are quite nimble in their quest to own real estate. In fact, I don’t think it’s a stretch to say they are the key to the overall health and stability of the current housing industry.”
If you’re thinking of selling your house but are hesitant because you’re worried that buyer demand has disappeared in the face of higher mortgage rates, know that isn’t the case for everyone. While demand has eased this year, millennials are still looking for homes. As Mark Fleming, Chief Economist at First American, says in an article:
“While not the frenzy of 2021, the largest living generation, the Millennials, will continue to age into their prime home-buying years, creating a demographic tailwind for the housing market.”
Millennials are interested in and well-positioned to achieve their homeownership dreams. If you’re ready to sell your house, know that it may be just what they’re looking for.
Article Source: www.keepingcurrentmatters.com
