Bigger Homes for Older Buyers

We are back with more information concerning the North Raleigh real estate market and how things are going this quarter! Below, you'll find information concerning what age group is buying homes now and what type of homes they prefer!

With home sales surging all across the U.S. it's time to take a look at a few details about who is buying homes today. With new home sales increasing by the month, it seems like our economy is getting back to normal after a terrible recession close to a decade ago.

Home Buyers Are Older Now | North Raleigh Real Estate

There are a few facts we'd like to discuss in today's article. Below, you'll find a few things to consider, from kwch.com:

  • Construction crews are starting on homes at the fastest pace since the recession.
  • The housing market is finally starting to be a real boost to the U.S. economy and stock market.
  • American homes are getting bigger and buyers are getting older.
  • The median age of a home buyer has gone from 35 to 43
  • The median age of a home buyer in 1985 was 35.
  • When the housing boom was nearing its peak in 2005, the median home buyer's age was 39. Now it's 43, according to U.S. Census data.

In this day in time, individuals are getting married later and having children later in life, as well. We talked about this in previous blog posts concerning real estate trends for 2015. But, it's becoming more and more clear that things are different now than they've ever been. They're pushing off home buying until they're in their early forties.

Home Buyers Prefer Bigger Homes | North Raleigh Real Estate

Would you believe that middle aged buyers prefer to buy larger homes? Since the year 2000, older buyers consistantly prefered homes of about 1,800 square feet or less. Now, the want at least 2,000 square feet or more. You might be wondering what's in all that extra space. We are here to tell you!

Extra Bathrooms

People prefer homes with more than two bathrooms now. Before, two was enough. Now three or four are on the must-have list. This is great for home builders, as bigger homes means more money!

Are you considering buying or selling a home soon? If so, now seems like a great time! The North Raleigh real estate market is booming!

With the lower interest rates and increased sales, it's a great time for buyers to really consider purchasing a home before the end of this year. With time left to search, as well as sell current homes, now's a great time to contact our North Raleigh real estate team!

Also, if you’re considering selling your home, it's time to act now! Contact Roark Premier Team today and get started with the process of listing your home. We guarantee to sell your home in 59 days or less. If we don’t, the listing fee is waived! So what are you waiting for? Call now! Our real estate agent is standing by to help you get your home sold during one of the busiest times of the year for North Raleigh real estate!

 

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