Dreaming of a new home? You are in good company. Did you know that real estate has been breaking records this year? Homebuyers are making the move to a new home in record numbers.
Why is the housing market so strong?
According to this article in KeepingCurrentMatters.com, the homebuyers are out in force, here are a few reasons:
1. Demand Is Strong among Millennials
The nation’s largest generation began entering the housing market last year as they reached the age to marry and have children – two key drivers of homeownership.
2. Mortgage Rates Are Historically Low
All-time low interest rates are also driving demand across all generations. Strong demand created by this rate drop has countered other economic disruptions. Mortgage rates are expected to stay at extremely low rates into the near future.