We’ll be seeing a change in inventory and a new generation in our market in 2019.
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There are a few trends we’ll be seeing as we make our way through 2019.
For several years, we’ve had a very low amount of home inventory in our market. More homes are coming on the market, but they’re still not enough to keep up with buyer demand. Nationwide, inventory hit the lowest level in recorded history last winter and only recently began to recover. We expect this growth to continue, but not at a large rate—we predict around 7%.
Just a few years ago, most millennials were barely old enough to buy a home. Now they make up the majority of the home buying market, and this will continue to be the case in 2019. Currently, this generation accounts for about 45% of mortgages, compared to baby boomers at 17% and Gen Xers at 37%. And the homes millennials are buying aren’t just starter homes—many are already moving up.
If you have any questions about the landscape of the 2019 market, need further information, or would like to talk about your home buying or selling needs, reach out to us at 201-825-1266 or send an email. We look forward to hearing from you soon.
For several years, we’ve had a very low amount of home inventory in our market. More homes are coming on the market, but they’re still not enough to keep up with buyer demand. Nationwide, inventory hit the lowest level in recorded history last winter and only recently began to recover. We expect this growth to continue, but not at a large rate—we predict around 7%.
Just a few years ago, most millennials were barely old enough to buy a home. Now they make up the majority of the home buying market, and this will continue to be the case in 2019. Currently, this generation accounts for about 45% of mortgages, compared to baby boomers at 17% and Gen Xers at 37%. And the homes millennials are buying aren’t just starter homes—many are already moving up.
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Inventory hit the lowest level in recorded history last winter and only recently began to recover.
”If you have any questions about the landscape of the 2019 market, need further information, or would like to talk about your home buying or selling needs, reach out to us at 201-825-1266 or send an email. We look forward to hearing from you soon.
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