Many housing pundits are calling for home sales to do slightly better in 2014 than they did in 2013. To the contrary, we strongly
believe that home sales will skyrocket with increases of 10-15% in 2014. Here are the three categories of buyers we believe will create this strong demand.
The First Time Buyer
The Urban Land Institute
recently released a report, Emerging Trends in Real Estate 2014
, projecting that 4.48 million new households will be formed over the next three years. Millennials will make up a large portion of these new households. With the economy improving, we believe they will finally be moving out of their parents’ homes and, when they compare renting versus buying, many will choose homeownership.
The Move-Up Buyer