Today’s young buyers are keenly aware how many people lost their homes and everything else along with them. They are generally more careful and concerned about over paying or stretching beyond their limits. That being said, they are still looking to owning a home as an important aspect of their futures. One survey says 96% feel owning a home is important.
Buyers today think price gains will level off. Understand, they think they will gain, just not as fast as last year. 78% view owning real estate favorably. A big chunk of those are preparing to buy in 2014. Many people are in a better position now and that fuels the market.
People are planning to buy for better reasons today than when prices went so high, so fast: security, best place to raise a family and generating long term wealth, for example. They also believe prices will continue to increase, albeit at a more sustainable pace, and interest rates are low, making this an ideal time to enter the market.
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Everybody wants a “deal”. At some point, it might be a good idea to realize homes are a good “deal” in and of themselves these days.
