Today’s Buyers Are Serious about Purchasing a Home

Dated: August 5 2020

Views: 19

Today’s Buyers Are Serious about Purchasing a Home | MyKCM

Today’s homebuyers are not just talking about their plans, they’re actively engaged in the buying process – and they’re serious about it. A recent report by the National Association of Home Builders (NAHB) indicates:

“…. Of American adults considering a future home purchase in the second quarter of 2020, about half (49%) are not simply planning it, they are actively engaged in the process to find a home. That is a significantly higher share than the comparable figure a year ago (41%), which suggests that the COVID-19 crisis and its accompanying record-low mortgage rates have converted some prospective buyers into active buyers.”

Today’s Buyers Are Serious about Purchasing a Home | MyKCMIt’s no surprise that buyers are out in full force today. Many Americans now need more space to work from home, and the current low mortgage rates are providing an extra boost of motivation to enter the housing market.

If you’re considering selling your house, know that today’s buyers are serious about making a move. Your opportunity to sell your house in a market with high demand is growing, especially as more millennials enter the housing market too. The same report also notes:

Of Millennials planning a home purchase in the next year, 57% are already actively searching for a home.”

Odeta Kushi, Deputy Chief Economist at First American, explains:

“When breaking down house-buying power by educational attainment for millennials in 2019, we find that the higher the education, the higher the household income, and the higher the house-buying power. In 2019, median house-buying power for millennials increased 16 percent relative to 2018.”

As demand for homes to buy grows and more millennials enter the market with growing buying power, the opportunity to sell your house grows too.

Bottom Line

Today’s buyers are serious ones and more millennials are helping to fuel that charge. So, if you’re considering selling your home, let’s connect today to determine your next steps in the process while buyers are actively looking.

Blog author image

Alex Ortiz

I started my real estate journey in 2001 as an assistant and in 2004 earned my Real Estate License. Since then I have gone through my own buying and selling experience, became an entrepreneur in vario....

Latest Blog Posts

Early October is the Sweet Spot for Buyers

Early October is the Sweet Spot for BuyersAre you looking to buy a home? If so, we’ve got good news for you.While there’s no denying the housing market is having a great year,

Read More

If You’re a Buyer, Is Offering Asking Price Enough?

If You’re a Buyer, Is Offering Asking Price Enough?In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower

Read More

It’s Still a Sellers’ Market

It’s Still a Sellers’ Market Some HighlightsDue to low supply and high demand, today is one of the strongest sellers’ markets we’ve seen.Sellers

Read More

Two Reasons Why Waiting a Year To Buy Could Cost You

Two Reasons Why Waiting a Year To Buy Could Cost YouIf you’re a renter with a desire to become a homeowner, or a homeowner who’s decided your current house no longer fits your needs, you

Read More