The number of potential first-time homebuyers is on the rise. Would-be first-time buyers made up 63 percent of prospective buyers in the final quarter of 2019, according to the National Association of Home Builders.
In fact, for most of the year, the number of potential first-time buyers remained at 60 percent.
Younger generations, such as millennials and Generations Zers, are entering the market in wider numbers, accounting for 19 and 12 percent of the market, respectively. The majority of these buyers are first-timers.
Historically, low-interest rates may be a big reason why so many people have purchased a home, or feel like they’re close to doing so.
While the availability of homes isn’t optimal, there’s reason to believe that it can increase in the near future, paving a wider pathway to homeownership.
If you live in Roseville or the surrounding region, and you’re thinking about buying a home, today’s climate, including a strong economy, is enticing as ever.
Whether you’re a first-time homebuyer or you want to buy a home for the second or third time, our team will help give you a competitive advantage. Our local mortgage experts have the experience and community knowledge to get you on the path to homeownership.
Contact us today.