More than Half of Americans Will Move in the Next Five Years!
A new BMO Harris Bank study finds that 52 percent of Americans say they plan to move in the next five years? Wow, that’s a lot of packing boxes and bubble wrap. The study, conducted in January and February of this year, also reveals that buyers are willing to pay $296,000 on average and will have a 21 percent down payment.
And speaking of money, three quarters of buyers develop a budget before their search. In the end, 16 percent spend less than budgeted, while 13 percent spend more.
Most – 63 percent – spend fewer than six months to find home sweet home, but there is always the impulse buy. Eight percent of Americans report buying home even if they never engage in an active real estate search; they jump because a special property catches their attention.
What kind of buyer are you? REALTORS® across central Indiana continue to report low inventory so it’s important to work with professionals who really know your target neighborhoods. They’ll know when that perfect home hits the market.