Posts with tag 'buying a home'

Home buyers are ready to plant roots: Today's buyers are young, multicultural, tech-savvy, and eager to buy a home as a personal investment, according to the National Association of REALTORS®' 2019 Profile of Home Buyers and Sellers. Young adults ages 25 to 34 make up a quarter of all home buyers, the largest share. Meanwhile, first-time buyers are getting older: The median age of this cohort rose to 33—the highest on record in the NAR survey.

Snapshot of Home Buyers

• Average age: 47
• Median household income: $93,200
• Living situation: 61% married; 17% single females; 9% single males; 9% unmarried couples
• Demographics: 84% white; 7% Hispanic; 5% Asian; 4% African American; 3% other
• Average length of house hunt: 10 weeks (touring a median of 9 homes)
• Primary reason for purchase: Desire to own a home
• Most common house type purchased: Detached single-family home, 1,850 square feet, three...

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During the housing market crash, Gen X homeowners lost more wealth than other generations. However, things are changing now! A strong economy, increasing home prices, and the recovery of the housing market are helping this generation to regain their lost wealth.

According to Pew Research Center,

"Their fortunes have rebounded more than those of other generations during the post-recession economic expansion and as home and stock prices have risen. Since 2010, the median net worth of Gen X households has risen 115%. In fact, in 2016, the most recent year with available data, the net worth of a typical Gen X household had surpassed what it was in 2007 ($84,200 vs. $63,400)".

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Shared Information by Association of Exclusive Buyers Agents (NAEBA) and Keeping Current Matters

Are you coming up on retirement age and thinking about where you'd like to live in "your golden years?" More and more baby boomers are entering retirement age, and question whether or not to sell their homes and move. In today's housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home's ability to adapt to your needs in retirement.

According to the National Association of Exclusive Buyers Agents (NAEBA), listed here are 7 impo...

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Video: What's the First Step on the Home Buying Journey?