Are You 1 of the 59 Million Planning to Buy This Year?
According to a survey conducted by Bankrate.com,
one in four Americans are 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 takeaways:
- Those most likely to buy are ‘Older Millennials’ (ages 27-36) or ‘Generation X’ (ages 37-52)
- Minorities, particularly African-Americans, were twice as likely to respond that they were considering purchasing a home this year than white respondents.
- Many potential buyers believe they need to put 20% down and need to have perfect credit to own and are unaware of programs that would allow them to buy now.
“Having kids and raising a family is a primary reason why Americans take the leap into homeownership—many consider it a key component of the American dream.”
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