Here Come the Millennials!!  

The Real Estate Market has been eagerly anticipating the entry of Millennials as first time home buyers. It's finally looking like the job market is aligning to support Millennial's ability to take the first steps to home ownership and financial security. This is great news for the continuing strong Seller's Market. 

 

Many have been wondering when the much anticipated move by Millennials’ into homeownership would actually take place. We know the belief in owning a home is there.

According to a recent Merrill Lynch study, eighty one percent of Millennials believe “homeownership is an important part of the American Dream”. This compares favorably to previous generations.

The obstacle seemed to be employment. It appears that is about to change.
The most recent jobs report disappointed many economists. However, the silver lining in that cloud of doubt was Millennials. Jonathan Smoke, realtor.com Chief Economist, reported:

“About 33% of civilian jobs created over the last 12 months have been for the young adults who are most likely to buy their first home. This should help support continued growth in the share of homes purchased by first time buyers, as economic success has been influencing older Millennials to jump into the housing market this year.”

Selma Hepp, chief economist at Trulia, concurred:

“The faster rate of job growth among Millennials will continue to bolster both the rental and for-sale housing markets for an extended period of time.”

It appears that Millennials will be entering the housing market in great numbers in the very near future.

by The KCM Crew on October 22, 2015 in First Time Homebuyers, For Buyers, Millennials

Where Will Home Prices Be In A Year?

Where Will Home Prices Be In A Year?

Some interesting facts:

• 25 states are forecasted to achieve higher levels of appreciation in the next 12 months than already achieved in the last year.
• 25 state and the District of Columbia are forecasted to experience a slow in appreciation.
• All 50 states & D.C. are forecasted to achieve some level of positive price appreciation.

Even though each state is appreciating at different levels, you need to know the Cost of Waiting until next year to buy your dream home!

 Ready to buy? Call me today, I would love to help you realize your Dream!!

New Home Sales Surge By 5.7%!

Some Highlights:

• The median price of a newly constructed home is currently $292,700.
• Sales are up 5.7% month-over-month and 21.6% year-over-year.
• Many buyers are looking to new homes as an option due to the lack of inventory of existing homes for sale.

 

It's great news that New Home sales are up, but when you see that it is because of the lack of inventory in existing homes, you'll realize that the opportunity for Seller's is still high. Because the demand it there which will continue to drive prices and values up. If you're thinking about selling it's still a great time to call me!