Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

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Real Estate in 2017

filed under: Informational posted on October 20th, 2016

realtor dot com logoRealtor.com just released the results of who is going to impact real estate in 2017.

The study is based on a survey of active shoppers on realtor.com® providing details on future home buying trends in 2017 from potential buyers planning to purchase in the peak buying seasons spring and summer.  A link, at the bottom of the page, showcases report details.

Some important findings for potential sellers in the Cincinnati area to consider:

  1. 1st time home buyers could make up over half of the buyer population in 2017.
  2. The biggest problem for potential buyers -affordability and mortgage qualification requirements.
  3. More living space, larger yards and safe neighborhoods top the list of key attributes.
  4. Many 1st time buyers are looking to purchase in the suburbs.
  5. No surprise- spring and summer are expected to be the hot times for the 2017 real estate market.

So the trend toward tiny houses, urban living and smaller lots may be shifting as Millennials flood the market.  By age group the older Millennials (25-34) make up 33% of active home shoppers.  Younger Gen X (35-44) comprise 23% of the active shoppers and older Gen X and younger Baby Boomers (45-54) make up 17%.  The older Boomers (55-64) make up 17% of the buyers and “mature” buyers (65+) account for 6% of the shoppers.

Each group has different buying triggers and figuring out where to position your property in the greater Cincinnati real estate market is critical to achieve a quick sale.

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