buying a house right now

What homebuyers really want in 2020 [INFOGRAPHIC]

Bethany RamosFirst-Time Homebuyer, Home Buying, Moving, News

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A few highlights:

  • A recently released HarrisX study shows that those buying a house right now aren’t hindered by our current health crisis.
  • In fact, many buyers are speeding up their house-hunt so they can leverage record-low mortgage rates.
  • Sheltering in place has also provided the opportunity for many to save extra money for a down payment.

Buyers aren’t just looking – they’re serious

As fun as browsing and bookmarking dream houses can be, today’s homebuyers aren’t having it. Buyers are highly active, and they’re taking their house-hunt seriously.

As a new report from the National Association of Home Builders (NAHB) shows:

“…. Of American adults considering a future home purchase in the second quarter of 2020, about half (49 percent) are not simply planning it, they are actively engaged in the process to find a home. That is a significantly higher share than the comparable figure a year ago (41 percent), which suggests that the COVID-19 crisis and its accompanying record-low mortgage rates have converted some prospective buyers into active buyers.”

Homebuyers are flooding the market, and it’s easy to understand why. More Americans are buying a house right now to gain additional space as they continue working remotely. Economic experts have also pointed out that plummeting rates are the “icing on the cake,” offering further motivation to jump into the market.

Is there a better way to mortgage? Absolutely.

And for those hoping to sell and trade up or move out of the city, trust that today’s buyers are serious. As demand grows, your odds of selling quickly and at a profit are high. The NAHB report also states that more millennials are planning to purchase in the near future, with “57 percent [of this group] already actively searching for a home.”

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For educational purposes only. Please contact your qualified professional for specific guidance.

Sources deemed reliable but not guaranteed.

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