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Are you 1 of the 59 million planning to buy this year?

30 Apr
TeamGeorgeRealEstate April 30, 2017 0

As real estate professionals, we are always looking for ways we can provide more value to our clients. When working with home buyers there is so much more involved than just finding a home to buy. Today with everyone using the internet to do their shopping online, looking at houses and making lists to tour them is the easy part. Where professional agents bring the most value is assisting buyers through the entire process. As agents, we have built solid community business relationships with numerous key professionals that are involved in different pieces of the home buying process. When getting started with your home buying goals, understanding your financial capabilities and how lenders operate can be a big asset.

Let’s take a look at who is currently forecasted to buy a home in 2017…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, this 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 Millenniums’ (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 considerate a key component of the American dream”

So, if buying a home is part of your dream for 2017, meet with your local real estate professional and get an early jump on the process and let them help you determine if you are ready.

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