As the real estate market continues to improve alongside rising rent prices, homeownership is becoming more desirable to those who were once wary.
TD Bank recently conducted a survey that found 50% of current renters are likely to become homebuyers within the next 2 years. The American dream is still alive as 59% of the respondents said that purchasing a home was very important to them. Interestingly, millennials may place an even higher value on owning a home, with 76% responding that it was very important to them.
Rising rents and the desire to build equity are the two main contributing factors for current renters wanting to buy. As we start to see more first time homebuyers enter the market, we may also see purchasing trends shift for existing homeowners too. Homeowners who may have sold a second home during the market downturn may once again look for a vacation home as the market warms.
Whatever stage of life you are in or whichever category you fit into, we’d love to help you with your real estate needs. If you’re interested in Sanibel real estate, contact us, search our MLS for available properties, or get in touch with one of our Sanibel realtors.
news source: floridarealtors.com
Looking for Sanibel real estate? Click here to search all MLS
Related articles:
2.2 Million “Boomerang” Home Buyers Turn Back to Real Estate Market
Home Buying 48% More Affordable than Decade Ago
Real Estate Voted Top Investment Choice Again – Sanibel Real Estate
Benefits of Home Ownership – Sanibel Real Estate
Finding the Home that Fits – Sanibel Real Estate
Florida Housing Market Continues to Grow
