It’s good news that most Americans are now ready to return to real estate investment. We know that the last 5 years have not been ideal, but now we are recovering at an incredible rate and real estate is now a wonderful investment, with about a 7% annual appreciation rate on average once again. Americans are ready to buy more real estate, according to the new PulteGroup Home Index Survey. In fact, 67% of Americans are now planning on purchasing property, 30% within the next two years.
The survey also includes other valuable information, such as that the most likely new buyers are first-time millennials and move-up buyers seeking a better property. An overwhelming majority of millennials surveyed say they are definitely going to purchase. But don’t discount those 55+ either; more than half of them are looking to buy. All potential buyers cited the need for extra space and the fact that real estate is a great financial investment as their main reasons for wanting to buy.
It’s time to consider buying in the South Bay as the competition is about to get fierce. However, if you are already a South Bay homeowner, you might want to consider selling. It looks like you’ll have a lot of potential buyers just around the corner. You can read the survey yourself at the PulteGroup Inc. website.