Are You 1 of the 59 Million 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 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:
- Those most likely to buy are ‘Older Millennials’ (ages 27-36) or ‘Generation X’ (ages 37-52)
- Minorities were twice as likely to respond that they were considering purchasing a home this year.
- 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. VA and USDA are 100%, no down loans. FHA - 3.5% down.
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.”
The Sedona market is dominated by second home buyers, self employed or telecommuter and the retiree market. If buying a home in Sedona is a part of your dream for 2017, let’s get together.