Pultegroup also pointed out that about 30 percent of 2012 real estate sales were to first time home buyers. Vice President of Pultegroup, Fred Ehle added to the surveys finding by saying, “the combination of incredibly low mortgage rates, rising rental rates and very low inventory levels, millennials realize now is a good time to purchase a home.” Many of the soon to be home buyers are already making financial decisions in order to achieve this goal. Obstacles such as student debt, down payment cash and advanced career placement are finally being subdued by a more promising economic outlook.
Nelson also mentions that home owners sell at a much higher rate once they hit age 60. This could represent a huge supply of home as 80 percent of adults own homes by the time they are 65 years old.
If you are thinking of entering the real estate arena, whether buying or selling, now may be the most opportune time we have seen in years! Buyers should take advantage of current real estate market conditions while sellers should catch the tailwind of all this activity.
SI Real Estate offers highly personalized, multilingual, full-spectrum real estate purchase and sales services. We are a boutique for sophisticated investors, select owners or renters who may be upgrading locally, or those making traditional relocations. We also provide turnkey landlord and tenant management. Blending comprehensive insight into the Tampa Bay area with international perspectives for a worldwide clientele, we like to think that “SI Real Estate is Global Real Estate in Every Way!”