Despite Lack of Supply, Home Buyers Still Looking for New Homes to Buy


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Are you looking for homes sales? In many parts of the country, it’s a seller’s market in terms of the housing market. There are more people looking for houses than there are houses available, so as a result, sometimes moving into a new home is easier said than done. In many areas, the demand outpaces the supply. Housing developments are popping up all over the place and rental prices are skyrocketing to the point that they?re often times more expensive than owning a home. But what kind of people are looking for homes? What kind of homes are they looking for?

For starters, many would be home buyers are new to the game and are trying to purchase their first home. In fact, an estimated 32 percent of those looking for a home is first time buyers. Because they?re new to the game, many are searching for their dream home with the assistance of a skilled real estate agent or a knowledgeable real estate company. Realtors are often viewed as having useful knowledge when it comes to buying, or even selling, a home. Because of this, it should come as no surprise that nearly 88 percent of buyers in 2014 worked with a real estate agent or broker to buy their home.

So we?ve established that many home buyers today are looking for their first house, but what type of people are house hunting? Well, millennials make up a big chunk of today?s home buyers, and though an estimated 83 percent of buyers are looking for traditional single-family homes, about 20 percent are content with a town home. Nearly 50 percent of buyers would prefer a newly built home, something that?s never been lived in before, and many millennials and baby boomers are looking for homes in walkable, safe neighborhoods.

But sometimes finding that perfect home is the easy part. In today?s competitive housing market, you have to be ready to pull the trigger and submit an offer quickly. It?s also not uncommon for houses to sell well over the list price, especially if there is more than one person interested in a home. So if moving into a new home is on your agenda in the near future, it?s important to know what kind of house you?re looking for, and equally important to be prepared to submit a strong offer whenever you go to a showing.

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