Login | Sign Up |

Logo

MENU
  • Property Search
  • Featured Homes
    • New on The Market
  • Buyers
    • Property Search
    • Dream Home Concierge
    • Mortgage Rates
    • Mortgage Calculator
    • Get Prequalified
  • Sellers
    • Home Values
    • Sold Listings
    • How We Market Your Property
  • Neighborhoods
  • About
    • Meet Our Team
  • Testimonials
  • Contact
  • Our Blog
  • Property Search
  • Featured Homes
    • New on The Market
  • Buyers
    • Property Search
    • Dream Home Concierge
    • Mortgage Rates
    • Mortgage Calculator
    • Get Prequalified
  • Sellers
    • Home Values
    • Sold Listings
    • How We Market Your Property
  • Neighborhoods
  • About
    • Meet Our Team
  • Testimonials
  • Contact
  • Our Blog

Americans Want To Own, Think Now Is A Great Time To Buy

Americans Want To Own, Think Now Is A Great Time To Buy

November 22nd, 2015

“Home ownership is part of the American Dream… that dream is alive and thriving in our communities.”   –  This from National Association of REALTORS president Chris Polycron, in response to the results of the NAR’s recent 2015 National Housing Pulse Survey.  The survey was conducted amongst Americans from the 50 most populous metropolitan areas and showed a strong belief in the strength of the housing market and a desire to own.

Top Three Reasons We Want To Own

According to the survey, the top reasons for wanting to buy were much the same as they have been in past years – Americans want the opportunity to build equity, we have a strong desire for a stable and safe environment, and we want the freedom to choose our own preferred neighborhood.

Home Ownership Makes Financial Sense

More than eight in ten people say that purchasing a home is a smart financial decision.  That’s always been a given for most, but more importantly, 68% of people believe that NOW is a good time to buy, and 89% see sales in the market staying steady or increasing.

We’ve written recently about the crunch renters are feeling, and how the market is definitely in favor of buying versus renting, with homeowners producing greater wealth.  This was evidenced in the survey as well, with the number of renters who are now thinking about purchasing a home increasing from 36 percent to 39 percent since the last survey in 2013.  Sixty-one percent of renters say that owning a home in the future is a top priority for them (up 11 points from 2013).

As the economy has improved more buyers are better off, and have more money to spend or save again.  Add to that the continued low interest rates, that most believe will be here for a while but certainly not forever, and we see many people motivated to buy now.  Consider this:  Rates have been hovering around 4% – a big discount compared to the average monthly 30-year fixed rate since 1971, which was a whopping 8.39 percent.

Affordability Still Good

Any time the market is strong, there is always concern about affordability.  If the market continues to rise, will prices continue to be reasonable?  It’s always a balancing act, but the data shows that homes are still 48% more affordable today than in 2006.  Wage growth is catching up with average ownership costs, and favorable home prices is still cited as a major motivating factor for buyers.

With everything the housing market has been through in the last decade, it’s reassuring to see where we are now and the confidence most people have in the market.  Home ownership is an important and rewarding part of American life, so let’s hope we continue to see more and more of us realize that goal!  If you would like to talk to us about owning your first home, or looking for your next one, please give us a call!

Share on:

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post:
New Mortgage Rules – What You Need To Know
Next Post:
Online Searches, For Sale By Owner – Agents Top Both
Intrepid Real Estate
Intrepid Real Estate
(760) 650-2156
Liz@intrepidsd.com
CADRE# 01935929
Recent Posts
  • Budget Consideration
  • Expert Negotiators
  • The Closing Process
  • Adventure Awaits
  • Exploring for your Home
Categories
  • Real Estate News
  • Social Media Posts
  • Uncategorized
Recent Comments

    Featured Listings

    Disclaimer

    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by Sandicor®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2020 Sandicor®, Inc

    Questions? Ask Here!

    © 2021 Intrepid Real Estate, (760) 650-2156, 01963466, Intrepid Real Estate, 1734 Mount Way Vista, CA 92081, 01935929
    Websites for REALTORS