A Look At The Housing Market In the United States

Buying a house can be an exciting process, one that opens up new possibilities and brings forth a new chapter in many people’s lives. People buy homes for any number of reasons, and each family or household will have a slightly different reason for buying a home. For instance, some people choose to buy a house because they are getting married and looking to start their lives together. Others will search for a house after they have begun to have children and need a bigger space to accommodate their growing family. And still others buy a house simply because they want one – because they want a space to call theirs and theirs alone.

And the housing market in the United States is currently in a period where it is thriving, with considerably more than five hundred and fifty thousand homes sold in just the period of one year. Single family homes are by and large the most popular type of home sold everywhere in the country, with more than eighty percent of all prospective house buyers looking to purchase a single family home. And just under fifty percent of these prospective home buyers are also looking for a house that has never had a previous owner. Brand new houses have grown in popularity in part because they are not likely to have many needs in the way of maintenance, something that is typically prized by prospective home buyers. Newer homes are also likely to be more energy efficient, a quality that is important to as many as forty eight percent of all prospective house buyers.

Real estate companies all throughout the country have also noted the growth in young people looking to buy homes. Though there is often the perception that millennials aren’t buying homes – at least not in the United States – this is actually far from true. First time home buyers tend to be on the younger side – and more than thirty percent of all first time home buyers in the United States have been found to be first time home buyers. The year of 2017 also showed that more than sixty percent of all people who bought homes were either the age of thirty five or younger than that.

For those who are looking to sell their house, many a real estate agent has noticed trends that can help home owners to prepare for what will hopefully be a quick sale at a high price. For most houses, real estates agents recommend improving and updating landscaping before the home is placed on the market. This is because a well landscaped home is likely to sell for a higher price – as much as fifteen percent higher – and sell in shorter amount of time, typically in around six weeks less than a home that has not updated their landscaping. Small repairs and renovations should also be made around the house as the owners prepare to sell, and it is recommended by many a real estate company that home owners make small changes like repainting their garage or even replacing them if they are particularly worn out and no longer in good shape. This can actually improve the energy efficiency of the house, which is another strong selling point.

The housing market in the United States is experiencing a period of considerable success, thriving as more and more young people are looking to settle into permanent homes. As the years pass, it is likely that we will see even more millennials who are interested in buying a house, something that will continue to help our housing market thrive.