Home Buyer Demand Will Be Strong for Years to Come
There has been a lot written about millennials and their preference to live in city centers above their favorite pizza place. Some have even gone so far as to say that millennials are a “Renter-Generation”.
And while this might be true for some millennials, more and more research has surfaced that shows for the vast majority, owning a home is a major part of their American Dream!
New research shows that 66% of millennials who currently rent are determined to buy a home! Seventy-three percent of those surveyed by Pulsenomics plan to buy a home in the next five years, with 40% planning to do so within the next two years!
“Millennials want to own a home as much as prior generations,” Ali Wolf, Director of Economic Research at Meyers Research says. “We saw millennial shoppers scooping up homes in 2018—and 2019 will be no different.”
Bottom Line
Are you one of the millions of renters who are ready and willing to buy a home? Let’s get together to determine your ability to buy now!
How To Use the 28/36 Rule To Determine How Much House You Can Afford
The 28/36 rule is a guideline for determining how much house you can afford. It states that your total housing costs should not exceed 28% of your gross income, and your total debt should not exceed 36%. This rule helps ensure that you don't take on too much...
Governors of Western states consider public lands for developing affordable housing
Colorado Gov. Jared Polis and other Western governors are exploring the use of federal lands to address the affordable housing crisis in the region. In Nevada, officials are leveraging a federal law to acquire land for development at reduced prices, while...
Household debt in Utah rising at one of the fastest rates in the nation
A report reveals that Utah has one of the highest rates of household debt growth in the U.S., with residents adding over $1 billion in debt between the second and third quarters of 2024. The average household increased its debt by more than $1,000, ranking just behind...
Tips for Cutting Costs: Boost Savings for Home Buying!
Create a budget by listing income sources, tracking spending, and identifying non-essential expenses to reduce. Set financial goals by researching housing markets, breaking down savings into monthly or yearly targets.
Will You Owe Taxes When You Sell Your Home?
Homeowners may owe taxes if their profit exceeds the exclusion limits when selling their home. Single filers can exclude up to $250K in profits; couples filing jointly can exclude up to $500K.
Mortgage Calculator: How Much You Need To Buy a Home in Utah at a Rate of 6.60%
The average rate on a 30-year mortgage has decreased to 6.60%. In Utah, the median home price is $595,000, requiring a 20% down payment of $119,000, resulting in a monthly payment of $3,040. With a 10% down payment, the upfront cost is $59,500, leading to a monthly...
How to Maximize Profit When Selling a Damaged House
Selling a damaged house can still be profitable if you follow certain strategies. Start by staging the property to highlight its best features. Make necessary repairs without overspending. Improve curb appeal by cleaning up the exterior. Depersonalize and deep-clean...
Realtor.com 2025 Housing Forecast
In 2025, home prices are projected to rise by 3.7%, with mortgage rates averaging 6.3%. The housing market may experience shifts due to potential regulatory and tax changes under a Trump administration. Home sales are expected to increase by 1.5%, while for-sale...
4 mortgage interest rate scenarios that could occur in 2025
Mortgage rates have fluctuated since January 2024, starting near 7% and briefly dropping to 6.15% in September before rising to an average of 6.93%. Experts predict various scenarios for 2025, including rate stability, gradual declines, continued volatility, or...
Fed Interest Rate Forecast for 2025-26: Expert Insights
Fed Funds Rate Trends Forecast: - 2025 rate: drop to 4.0% - 2026 rate: to hold ~3.8% Economic Outlook for 2025: - GDP growth: taper from 1.8% to 2.5% by year-end - Rate cuts respond to slower economic growth