The 2017 housing market is looking bright, fueled by a big wave of first-time home buyers emerging.
First-time home buyers are predicted to make up more than half of home buyers next year – up to 52 percent, surging from 33 percent in 2016, according to realtor.com®’s Active Home Shopper Report, based on survey data from buyers who plan to purchase homes in the spring or summer of 2017. Also, realtor.com® predicts that will spark greater demand for suburban homes in the new year.
Millennials are finally expected to unleash their buying arm in 2017. They are predicted to make up 61 percent of the first-time home buyers under age 35 in the new year. The top motivators getting millennials moving now are getting married or moving in with a partner, growing tired of their current living space, and planning to increase their family size.
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