Think Americans are hesitant to buy Real Estate? Think again! According to a recent survey by the moving company Mayflower, nearly half of American (47% percent) say they feel more comfortable purchasing a new home today than at any other time in the4 past five years! This is great news for not only the real estate market but encouraging news that the economy is thriving again and that the market has turned.
According to the data, nearly one in three respondents (32%) say they anticipate moving in the next year. Not surprisingly, nearly half of Americans reported putting off moving over the past four years. "Economic instability" and the "declining real estate market" were the most cited reasons. If you live in San Diego and were not aware, our real estate market made a turn last year and has not looked back. Prices have rose consistently with no sign of a declining market in sight as of August 2013.
Millennia's were the most likely group of respondents to consider moving, with 50% saying it was something they were considering in the next year. And, bucking the notion that Millennial are a generation of renters. Millennia's desire to rent versus own decreased more than any other generation. In fact, mature respondents ( 65+) had the biggest jump in likelihood to rent in the last five years.