2018 Home buyer Trends

6cbcd926-db2a-4cae-8799-8b8bbd0c6a7a

2018 Home buyer Trends*

  • The US homeownership rate is 64.2%.
  • First-time home buyers made up 30% of all home buyers with buyers 37 years and younger to be the largest generational group of buyers with a median age of 31.
  • Recent buyers were categorized as following:

Married Couples=67%    Unmarried Couples = 8%

Single Females = 18%     Single Male = 7%

  • Thirty-seven percent of all buyers had children under the age of 18 living at home.
  • Buyers of new homes made up 15% and 11% of these new homes were buyers of age 37 years and younger while 21% were buyers of age 63 to 71.
  • The most common type of home purchased continues to be the detached single-family, which made up 83% of all homes purchased.
  • Senior-related housing accounted for 13% of buyers over the age of 50.
  • The typical size of home recently purchased was approx. 1,800 square feet with 3 bedrooms and 2 bathrooms. The size of home for buyers 38 to 52 years was typically larger homes at approx. 2,000 square feet, compared to the rest of the age group that purchased homes at a median of 1,800.
  • Heating and cooling costs were the most important environmental features for recent home buyers, with 34% finding these features very important.
  • Overall, buyers expect to live in their homes for a median of 15 years, while 18% say that they are never moving. For buyers 37 years and younger, the expected length of time in only 10 years compare to 20 years for buyers 53 to 62 years.
  • Among nearly all generations of home buyers, the first step taken was to look online for properties, except for buyers 72 years and older who contacted a real estate agent first.

 

*source 2018 National Association of Realtors Home buyer and seller generational trends

 

The latest in real estate-related and community news (and a bit of awesomeness). 

WIRE FRAUD alert– Home-buyer loses $31,000 in mortgage closing scam

REAL ESTATE news

U.S. existing home sales rise in March, inventory remains tight.

How self-driving cars could affect the real estate market.

Cities with the largest home price gains since the Recession.

Rents are rising at the fastest pace in two years.

MORTGAGE & FINANCE news

6 personal finance habits everyone should get into

Millennials will spend about $93,000 on rent by the time they are 30

10 hard truths about buying a home

HOME trends 

Second-time homebuyers would rather have a laundry room than a living room

Ways to reduce your carbon footprint

When solar panels make sense…and when they don’t

LOCAL news

Washington has nation’s highest ranked economy

Seattle homes sold at fastest pace ever, says Zillow

A peek into the modern homes of Seattle April 28

Will spring showers bring relief to area homebuyers?

King County continues to lead in home price growth

Developer plans to restore Edith Macefield’s ‘Up’ house in Ballard

We’re on track for the wettest April in Seattle history

Waterfront tunnel tolling scenarios

Snohomish PUD drops plan for hydroelectric plant

Startup Urban Herd is ride sharing for horse-lovers

A new waterfront hotel breaks ground in Everett as the Marina makeover gets underway

Average home sale price in Edmonds now at $670K

Seattle sending Boise its economic boom and the accompanying issues as well

800px_COLOURBOX2590232Researching schools and school districts? Ratings and Reviews. WA State School Report Cards – grading and stats for districts and individual schools
National Center for Education Statistics – grading and stats for schools and colleges
Private School Review – search and find information on private schools
Public School Review – important information on public schools
Great Schools – information and reviews on public and private schools
School Digger – search for schools and compare ratings and scores

WEEKLY DOSE OF awesomeness

Light Rail for cars? There’s a road in Sweden that recharges your electric vehicle while you’re driving  See it in action here:

 

 

NEW Listing! Lynnwood Rambler

Best buy in the neighborhood! Come quick & see this turn-key rambler with a one year home warranty that is sure to go fast. Large (10,454 sq ft) fully fenced backyard w/sports court & lots of room to entertain. Gas heat to keep you cozy plus a bonus room of 265 sq ft not included in records with a .5 bath. Light & bright kitchen with white retro cabinets, dining area and custom built in hutch. Fireplace ready for your gas insert. Good size bedrooms all w/hardwood floors. Newer exterior/interior doors, updated electrical, carpet is newer with hardwoods underneath. Roof done in 2007. Perfect location in Lynnwood close to everything you want & need! Full tour and info