It’s Looking Up
Why?
Millennials
The American teens and twenty-somethings currently making the passage into adulthood – have begun to forge their personslity: confident, self-expressive, liberal, upbeat and receptive to new ideas and ways of living according to Pew Research. They are also perhaps ready to move out of their parent’s homes.
It is believed that they will make up a significant portion of an estimated 4.48 million new households that will be formed over the next three years.
Comparing renting to buying should favor home ownership. In otherwords, there will be demand from first time buyers.
Mover Uppers
Dreams of a new home have been hampered by negative equity. 2013 saw an almost 8 percent increase in home equity though. That’s $1.9 trillion dollars!
With home values rising, do you think some will now be looking for their dream home? We do.
Immigrant Buyer Demand
A recent study released by the Immigration Task Force of the Bipartisan Policy Center (BPC) found that immigration reform, if passed, would dramatically increase demand for housing units; increasing residential construction spending by an average of $68 billion per year over the next 20 years.
Whatever the outcome of immigration reform is, the potential for strong demand is there.
Join Skyrise Real Estate Group in looking forward to a great year! We invite you to reach out to us, so that together, we can make good things a reality in 2014.
