How Is The Real Estate Market Faring?

October 19, 2016 by No Comments

Kitty hawk nc homes for sale

Wondering about the real estate market? It’s never been a better time to be curious! Despite some doomsday figures cropping up in the headlines here and there, real estate for sale has never seen better days. More and more Americans are seeking beautiful neighborhoods and quality habitats to raise their family and bolster their livelihood, ranging from stunning beach properties to the increasingly popular Outer Banks condos. Promoting homes for sale require a potent mixture of real estate knowledge, sociological awareness and market know-how.

How Many Are Going Into Real Estate?

Let’s start off with the lifeblood of the industry — real estate agents! The Association of Real Estate License Law Officials (shortened to ARELLO) has estimated around two million active real estate agents in the country, all working around the clock to provide the best deals and analyze market trends for buyers and browsers alike. The art of selling real estate involves being familiar with different forms of housing, the needs of the client and the fluctuating state of the current industry.

What Are Common Real Estate Choices?

While real estate for sale can take on a variety of different forms, some are proving more common than others. For starters, Forbes has estimated around two million new housing units needing to be built every year to accommodate population growth — you can see why the market is flourishing rather than crashing! The year 2014 saw 13% of buyers purchasing a multi-generational home for a variety of reasons ranging from cost savings, children over the age of 18 moving back in and taking care of aging parents.

What Are Real Estate Buying Trends?

Did you know that the typical first-time home buyer was around 31 years-old back in 2014? To contrast, the typical repeat buyer is 53 or so. Overall, around 33% of recent home buyers are doing so for the very first time and that figure isn’t expected to drop anytime soon. A significant portion of recent home buyers (at nearly 25%) admitted in a recent survey they want to buy a home simply for the desire of having an independent situation, while another 10% or so purchased because of a job-related relocation or move.

What Are Recommendations For Seeking Out Real Estate?

Real estate for sale is at its most successful when all resources are used right out of the gate. Real estate agents were viewed as a useful and reliable information source by a whopping 98% of buyers who sought out an agent during a search. A survey back in 2014 saw nearly 90% of buyers purchasing their home through either a real estate agent or broker — this figure grew steadily from only 69% from 2001.

What Should Both Buyers And Sellers Know?

Buying and selling are two different beasts, but that isn’t to say they don’t have their similarities. If you’re looking to buy a condominium or beach real estate, it’s essential you contact a real estate agent to help you out with the specifics — they can assure you find the best deals possible for your price range, crafting your search to suit your unique needs. It’s also been found 40% of buyers find their agent through a family or friend referral, which can prove very useful down the road! If you’re selling, though? Keep in mind what people need and why. With family units changing and the market only continuing to grow, you’ll want to stay on top of the latest news at all time. Real estate for sale is far from a dying market — it’s only getting better from here.

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