What This Real Estate Agent Thinks About Who is Buying Real Estate For Sale Now
Who is buying in this Spring market? Wherever you turn, you get a different answer. One source says despite all the homes for sale now and low interest rates, the younger buyers are locked out because of student loan debt and the inability to save down payments because of high rents.
But according to another leading source used by real estate agents, by the end of 2015, those under the age of 35 will overtake Gen X (35-50 years old) to become the largest group of homebuyers in the U.S. “Roughly 42% of Millennials say they want to buy a home in the next one to five years, compared to just 31% of Generation X,” they say. “The lack of home-buying activity from Millennials thus far is decidedly not because this generation isn’t interested in homeownership, but instead because younger Americans have been delaying getting married and having children, two key drivers in the decision to buy that first home. As this generation matures, they will become a home-buying force to be reckoned with.”
Then you have all these Baby Boomers who want to downsize. Are they out looking for real estate for sale? This real estate agent says they are, but they are not always finding what they want; it has been too hard, for many, to give up amenities. Fewer square feet is not an issue, as long as it is not spaces for cars or lots of storage for all those things they cannot yet part with! And they generally want to spend about half of what they will make on the sale of their present home, which is not always that easy.
About Sage Realty LLC
If you are in the market to buy a home, this is the time to do so. More homes are coming on the market as the weather improves and interest rates are at historic lows. Knowing what trends may affect your buying decisions are important, especially if you are in the process of purchasing your dream home. A Sage real estate agent can walk you through the process and help you make an informed buying decision. To contact us, call 610-687-4000 or email us at Sage Realty today to get started. You can also learn more about other market factors that influence buyers’ decisions. Visit https://www.findahomeinpa.com/inventory-accumulation-knowledge-help-buyers-find-best-homes-for-sale/ .