In the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to buy a home over the next 12 months. The report indicates the percentage of all buyers that will be first-time buyers looking to purchase a home grew from 58% in Q4 2018 to 63% in Q4 2019.
The results revealed,
“Millennials are the most likely generation to be making plans to purchase a home within a year (19%), followed by Gen Z (13%) and Gen X (12%). Prospective buyers in the youngest two generations are primarily first-time buyers: 88% of Gen Z buyers and 78% of Millennial buyers are reaching out to homeownership for the first time in their lives.”
With so many potential home purchases coming from first-time buyers, we know most of you will have a ton of questions. Luckily for you, your expert team at GARDNER, REALTORS is ready with the answers. To get started, let’s break out the pen and paper and go through your 2020 Homebuying Checklist.
If you’re thinking of buying a home, plan ahead and stay on the right track, starting with pre-approval. And remember being proactive will help set you up for success, and always know that we’re here to help guide you through the homebuying steps specific to your hyper-local area.
Ready to get started? For all of your dream home needs, contact your LOCAL expert at GARDNER, REALTORS today!