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Are You 1 Of The 59 Million Planning To Buy This Year

Dated: 02/22/2017

Views: 106

Are You 1 of the 59 Million Planning to Buy This Year? | Keeping Current Matters

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 2017, meet with a local professional who can help you determine if you are able to.

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Shelia Rejas

For almost a decade I have been serving the real estate community. I am member of the Mississippi Gulf Coast Association of REALTORS® and the National association of REALTORS®.I am a Military Reloca....

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