We always hear the market is "heating up," but what does that mean and who's buying anyway?
So far, 2017 can be described as nothing less or more than "interesting." Between politics, culture and the reveries of the world, interesting becomes an understatement. What do all of these "interesting" things mean for the housing market?
Millennials have been known to be the rebels of the late 20th and early 21st centuries and this year will surely be a year of progress for them. It has been predicted that Millennials, alongside Baby Boomers, will be the biggest buyers of the year.
There are more jobs and these jobs, fortunately, are those with higher pay; persons in the millennial age range (a range of 25-34 years) are qualifying to take these higher paying positions. In addition, persons in the millennial age range also happen to be in the period of their lives when they start to think about marriage and children; which are the two biggest factors contributing to a buyers market.
As for Baby Boomers, market statistics indicate that they are no longer interested in the "usual retire and move to Florida or Arizona" plan. Apparently, "sunny and breezy" has become less appealing to this group of buyers. Statistics show that Baby Boomers are staying in the work force longer are either downsizing close to home or upsizing close to home to stay near family and known friends.
So to all you thriving Philadelphia/Main Line millennials and boomers, this is your year!
Contact the Salas Team to find that 2017 hotspot!