Are You Planning to Buy a Home This Year?
According to a survey conducted by Bankrate.com, one in four Americans are considering buying a home this year. If this proves to be true, 59 million people will be looking to enter the housing market in 2017.
Here are 3 takeaways from the survey:
- ‘Older Millennials’ (ages 27-36) or ‘Generation X’ (ages 37-52) are the two groups most likely to buy
- Minorities were twice as likely to respond that they were considering purchasing a home this year.
- Many potential buyers falsely believe they need to put 20% down and need to have perfect credit to own. They are unaware of programs that would allow them to buy a home 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.”
If buying a home is a part of your or your family’s dream for 2017, give me a call at 562.225.1528 to determine if you are able to.