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Are You 1 of the 59 Million Planning to Buy This Year?

Are You 1 of the 59 Million Planning to Buy This Year?

According to a survey conducted by Bankrate.com, one in four Americans are considering buying a home this year. If this statistic proves to be true, that means that 59 million people will be looking to enter the housing market in 2017.

The survey also revealed 3 key takeaways:

  1. Those most likely to buy are ‘Older Millennials’ (ages 27-36) or ‘Generation X’ (ages 37-52)
  2. Minorities, particularly African-Americans, were twice as likely to respond that they were considering purchasing a home this year than white respondents.
  3. Many potential buyers believe they need to put 20% down and need to have perfect credit to own and are unaware of programs that would allow them to buy now.

Holden Lewis, a mortgage analyst for Bankrate.com, pointed to one big reason why many Americans are starting to consider homeownership:

“Having kids and raising a family is a primary reason why Americans take the leap into homeownership—many consider it a key component of the American dream.”

Bottom Line

If buying a home is a part of your dream for 2018, meet with a local professional who can help you determine if you are able to.

RELATED:

  1.  10 Things Your Competitors Can Teach You About Real Estate
  2. Why You Shouldn’t Take Your House Off the Market During the Holidays
  3. Existing Home Sales Surge Through The Holidays
  4. Homeowner’s Net Worth Is 45x Greater Than A Renter’s
  5. Top 5 Reasons You Should Not For Sale By Owner
  6. How To Prepare Your Home For Hurricane Season
  7. How Homeowners Celebrate This Hot, New Trend
  8. Time to File Florida Homestead Exemption!
  9. 6 Seemingly Innocent Habits That Are Hurting Your Health
  10. Are You Getting the Home Tax Deductions You’re Entitled To?
  11. What Would a Millennial Baby Boom Mean for Housing?
  12. 8 Questions to Ask Yourself to Help You Declutter
  13. Stop making excuses and clean up the clutter in your home!
  14. 5 Things Your Home Appraiser Wishes You Knew

 

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