Why Are Homebuyers Feeling Optimistic?

Homebuyer confidence is higher than ever, and long-term renters are looking to start buying. Today I’ll talk about why that is. Want to sell your home? Get a FREE home value report Want to buy a home? Search all homes for sale Why are homebuyers suddenly so optimistic? Right now, homebuyer confidence is at an all-time high, and there is an increasing number of renters who think that now is a good time to buy. There are three reasons that I believe explain this phenomenon: Lending guidelines are loosening up . Back in 2010 and 2011, things were a little bit harder on the buyer side to qualify for a mortgage. Now that the guidelines have opened up a bit, it has enabled more buyers to buy a home. Jobs are looking good . Fewer buyers are concerned about losing their jobs. Additionally, the median household income is now 150% of what their monthly payment would be as opposed to the historical average of 125%. Long-term renters are now opting to buy homes . Millennials, the generation born after 1980, have mostly opted out of homeownership up until now. Now that they’re entering the market as first-time buyers, they’re further along in their careers with higher income and more savings. Homebuyer confidence is at an all-time high. So what does all this mean for you? If you’re on the fence about buying a home, those are three things to take into consideration. It’s definitely still a good time to buy, and interest rates are low compared to historic averages. If you’re thinking about selling a home, give us a call or send us an email. We’d love to get you scheduled for a free consultation.

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Why Are Homebuyers Feeling Optimistic? is an episode from Kevin Langan Phoenix Real Estate Podcast​ by Kevin Langan.

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This episode was published on Dec 1, 2017.

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