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Are You 1 of the 59M Considering Buying a Home?

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!

Buying

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.  It is imperative that buyers seek out a reputable mortgage broker so they can be fully educated on the variety of options out there.

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.”

Are you thinking of buying a home?

If buying a home is a part of your dream for 2017, meet with a reputable professional who can help you determine if you are able to.  It is equally important that you seek out a Realtor who knows the area in which you are interested in buying.  These professionals are better equipped to know the area and pricing.



 

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