Millennials are now the largest group of homebuyers and around 45 million Americans are going to reach the average first-time home buyer age within the next ten years. This is over 3.1 million more home buyers than in the last decade. All of this is causing a shortage of starter homes already. When you look at the average age of the first time homebuyer (34 years old), you can see that 44.9 million Americans are approaching that. For people in the decade older (ages 35-44 rather than age 24-33) we see a whopping 7.4 percent increase. There was already a tight supply of starter homes anyway. It’s about to get worse.
Starter homes have actually gained in value by 57.3 percent in just the past five years. Meanwhile, our for-sale inventory in the United States in the starter home price range dropped by 23.2 percent in the past five years. Even jumping one tier up to the middle third of home prices, these even appreciated by a lot in five years. Actually, those homes appreciated 36.8 percent.
Here in Midland, things are even tighter than across the nation. Our amazing job opportunities and economy have people flocking to Midland. So, if you are thinking of selling, please contact us. We are selling homes fast and sellers are getting outstanding offers on these homes. While some people feel that since they only have a starter home to sell, they might not see a big return on their investment when they purchased just a handful of years ago, but the truth is, these starter homes purchased in the past are providing sellers with an excellent opportunity to upgrade… More than we have previously seen. So, please give us a call!
Are You Buying a Home in Midland?
The Underwood Group is a team of top real estate professionals in Midland. We know Midland real estate, so if you’re thinking about buying with this kind of market, you’ll absolutely need our expertise. Call our team of Midland real estate agents at 432-698-0411 today.
If you’re looking for a new home, search by school district or search Midland real estate listings by price:
- Midland homes for sale between $150,000 and $200,000
- Midland homes for sale between $200,000 and $225,000
- Midland homes for sale between $225,000 and $300,000
- Midland homes for sale between $300,000 and $400,000
- Midland homes for sale between $400,000 and $500,000
- Midland homes for sale between $500,000 and $750,000
- Midland homes for sale between $750,000 and $1 million
- Midland homes for sale over $1 million
Hoping To Sell A Home In Midland?
It won’t be hard to sell your Midland home, but when you choose to list your house with us, our experience can help ensure that you get the highest return on your investment! Plus, Midland 1st Choice Real Estate offers a Free Market Analysis to clients. This free analysis provides our clients with the best comparative value by looking at similarly featured home recently listed and sold.
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