Real Estate Market Trends

Agents Sell Homes for Thousands More Than Owners

Picture this: A home owner wants to sell their house, so they stick a "For Sale By Owner" sign out front. They figure that selling without an agent will save them big money on a commission, while only requiring a bit more work on their part. Sound familiar? In fact, 48% of people selling without an agent cite this as the primary reason why they chose to do so. While this financial logic may seem reasonable, the reality is that homes sold through a trained real estate agent sign for an average of $39,000 more than those sold by owner!

Homes are Still Much More Affordable Than in 2006

If you have the impression that home prices are rapidly approaching unaffordable levels, then we have some information that should make you feel better. While there is no doubt that price growth in the last couple of years has been stellar, homes remain far more affordable now than they were during the height of the housing bubble. In fact, the average monthly home payment in the first quarter of this year required 36.5% of the average worker's wages, down over 48% from 2006's decade high of 70.7%!

Where are Millennials Buying Homes?

Millennials, the generation born between about 1981 and 2001, now represent the largest segment of the U.S. population. Although they have numbers on their side, there is a persistent notion that millennials are uninterested in home ownership and therefore don't contribute significantly to the housing market. Indeed, some spectators have even gone so far as to label them a "generation of renters". However, according to realtor.com's Erik Gunther, this idea is unsupported by the facts. In reality, older millennials were the largest group of homebuyers in 2014! Keep reading to learn about the millennial housing situation and the top 10 areas attracting millennial buyers.

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