I have seen the market pick up right around the end of 2018. What does that mean? It means buyers are out looking, people thinking about selling are visiting open houses to see what is out there,
National Association of REALTORS ® Report
The NAR (National Association of Realtors) published the following report regarding buyers and sellers. For me, this year has been filled with first-time home buyers. The rising rent prices, desire to "make the home my own" and be settled are some of the reasons renters are taking the plunge to buy. I love working with first-time home buyers; love to educate and the journey.
Highlists From the Profile of Home Buyers and Sellers
For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS® of recent home buyers and sellers provides insight into detailed information about their experiences with this important transaction. Here are highlights from the latest report.
· First-time buyers made up 34 percent of all home buyers, a decrease from last year’s 35 percent.
· Age for first-time buyers remains flat, but the age of repeat buyers continues to climb—now at an all-time high of 54.
· Married couples continue at 3-year decline, while single females increased for the 3rd year.
· Buyer and seller use of agent remains at historical highs, 87% and 89% respectively. FSBOs remain at an all-time low of 8%.
· Sight rise in buyers using proceeds from sale as primary residence, but still below the historical norm.
2017 Profile of Home Buyers and Sellers - Download
· Drop in those who stalled their sale of the home because they were underwater to 10%, but it is still common among those who purchased 8-10 years ago at 26%.
· Tenure remains at an all-time high of 10 years.
· The weeks on market dropped to an all-time low of 3 weeks.
Patrice Boenzi is an experienced investor and landlord. Her extraordinary success in flipping homes benefits her clients through innate understanding of budget, cash flow and retained equity. Patrice ....