According to a survey conducted by Bankrate.com, one in four Americans is 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 points:
- The most likely to buy are the ‘millennials majors’ (27-36 years old) or ‘Generation X’ (37-52 years old)
- Minorities, particularly African Americans, were twice as likely to respond that they were considering buying a home this year than white respondents.
- Many potential buyers believe that they need 20% and perfect credit to own and are unaware of the programs that would allow them to buy now.
Holden Lewis, a mortgage analyst at Bankrate.com, pointed to one important reason why Americans are considering homeownership.
“Having children and forming a family is the main reason why Americans make the leap to homeowners – many consider it to be a key component of the American dream.”
If buying a home is part of your dream for 2017, let us meet to determine if you can too. Call me at (602) 488.6006 Itzel Zimmer Realtor