93% of Young Adults Plan to Buy a Home

by The KCM Crew 

If you follow this blog, you know that we have often posted that we believe young adults between the ages of 18-34 will be a major percentage of all buyers purchasing a home in 2013. Some believe we are overestimating the millennials’ belief in homeownership. However, a new study by Trulia reveals we may be dead on. Regarding young adults, the study reports:

43% are already homeowners

93% that currently rent plan to purchase a home

72% say homeownership is part of their personal American Dream

Jed Kolko, Trulia’s Chief Economist, explained:

“Millennials have been shaken, not scarred by the housing bust. Nearly all of them want to own a home someday, if they’re not homeowners already. But many of them think today’s low prices and low mortgage rates will last. They may be in for sticker shock if the cost of homeownership has returned to normal levels by the time they’re ready to buy.”

If you are a young adult waiting to buy, you must realize that the price of a home and the cost of a mortgage are both projected to increase in the next 12 months.

If you are thinking of buying a home in or around Bristol County MA or RI, please visit www.DistinctiveHomes-NE.comfor a free list of homes for sale in Westport MA and surrounding towns.

Would you like to receive a current market update of your specfic area? Contact me with your request.

If you are thinking of selling your home contact me for a FREE Current Market Analysis and to learn about our Market Plan to get your home SOLD!

We work with one going in mind, YOURS!

Noemi Cardoso

Local Office. Local Agents. Local Knowledge.

William Raveis Real Estate
911 Main Rd - Westport MA 02790
Cell: 508-558-1945
www.DistinctiveHomes-NE.com
noemi@DistinctiveHomes-NE.com