Nearly 200,000 more Americans will turn 32 this year than did last year. That may seem like a random factoid but it actually has big implications for the housing market. That’s because 32 is the age when many Americans buy their first home. It’s also close to the median age of parents with newborns. And with a couple hundred thousand more Americans turning 32 this year – and even more next year – there will be a lot of home buyers looking to buy a home in a family-friendly neighborhood.
Kid Friendly Neighborhoods See Rising Prices
That means increasing demand for affordable homes at a time when the inventory of homes for sale in those price ranges is lower than normal. The effects can already be seen. In fact, according to one recent analysis, home prices are rising about 3 percent faster in areas with a larger share of kids than they are in ZIP codes where there are fewer kids. So what does this mean for young Americans who are starting families and thinking about buying a home? Well, it means competition and prices will be rising in desirable, kid-friendly neighborhoods, so it’s more important than ever to have some savings and your finances in order. Follow the link for more information.
Here at A1 Mortgage, we know how important it is to choose the right house for you and your companion. We have the responsibility to provide you with the best products and the highest level of customer service possible. With hundreds of loan programs available, we tailor a loan specific to your mortgage needs. So come get pre-approved and start shopping for your dream home by clicking here!