The Force That Drives First-Time Home Buyers – April 09, 2024

Video Transcript

What is the number one reason behind people going out and buying their first home? Is it to live in a better area? A change in family situation – like marriage or parenthood?

No – It’s none of that. Would you believe: the top reason home buyers give for why they wanted to buy is “the desire to own a home of their own.” That data comes from the Home Buyers and Sellers Generational Report – just published by the National Association of REALTORS® – which shows that 49 percent of buyers born since 1990 – are just tired of paying rent and the restrictions that come with renting – so they chose to buy a home – to paint rooms the colors they want – to change up flooring – to get a big dog. And as for the timing – most acknowledge that it wasn’t great – 9 out of 10 said they made some compromises – but the pull to own a home is strong.

If you’re planning to buy this month or this year – check out our main channel with lots of helpful mortgage and real estate news. I’m Dan with Homebuyer.com. Happy homebuying.