What’s Fueling the Home Improvement Craze? |
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All of these factors have caused homeowners to turn to remodeling as an alternative to moving. |
Equity Refinances Surge Despite Higher Mortgage Interest RatesA sizeable percentage of homeowners are getting cash-out refinancing.2
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First-Time Homebuyers Outnumber Repeat Buyers3Loans to Millennials4in July 2018Single millennials make up nearly half the populationof homebuyers born 1980-1999.4Single Millennial HomebuyersThe cost of home purchasing for first-time buyers is expected to continue to rise as fewer homeowners sell “starter homes” and new construction fails to keep pace with housing demand.3 |
Working together, we can reach the millennial market and help turn more renters into first-time buyers. |
Sources:
[1] BuildFax, Housing Health Report, July 2018. [2] CoreLogic, a data and analytics company, The MarketPulse Report, August 2018. [3] eMBS, Federal Housing Administration, and Urban Wire, August 2018. [4] Ellie Mae® Millennial Tracker, September 2018. |
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