If you’re like most millennials, you’re spending more time than ever at home. It’s no surprise that this increase in time spent at home is causing many people to consider moving to a bigger space. Specifically, millennials who are in their prime homebuying years.
While many Americans believed this day would never come, millennials are buying homes at a rate that might be surprising to you. As the largest generation in America, it makes sense that millennials make up a large share of home buyers.
Opportunity Awaits
For millennials who already own a home, there is an opportunity to trade-up in 2021. They may have owned their home long enough to see equity gains. Even if you purchased a home sometime in the last few years, you may have more equity than you realize, and that’s a crucial factor to consider when you’re thinking about moving.
Consider this, the largest equity gains since 2014 took place in the 3rd quarter of 2020. In addition to equity gains, today’s housing market affordability is showing record-low mortgage rates, so moving at a time when you can get more for your money may be more realistic than you think.
If you’re considering moving this year, you’re not alone.
Eagles World Realty is here to help you find your perfect home. Let’s connect to discuss the equity you have in your current home and the opportunities that are waiting for you.