A Mid-Year Review of the National Real Estate Market

Thinking about buying a home or listing your current one? Whether you’re considering a jump into the housing market or are just curious about what shape it’s in, here are a few facts:

Millenials will continue to make up the majority of first-time buyers.

Millenials make up 65% of first-time buyers, and many of them are older Millenials aged 25-34.

86% of Millenials are buying due to a change in family size.

Millenials are predicted to drive two-thirds of household formations in the next five years.family-with-protection-dog-on-beach

There are fewer foreclosures on the market in most areas.

We’re reaching the end of the foreclosure crisis. There are fewer foreclosures and short sales on the market than before, in most markets.

Home inventory is up.

Total housing inventory is  at a 4.6 month supply at the current sales pace.

New listings are up 12% this year from 2014 levels.

67% of Americans say that now is a good time to buy; 40% say it’s a good time to sell.

Home builders are expected to break ground on more homes in 2015. Experts forecast a 16% growth in home construction.

Remember, it is always toasty in Naples and you deserve your piece of Naples sunshine!

 

 

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