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Renters still not ready to buy a home

Posted on October 4, 2016 by Community Real Estate

Source: Housing Wire

Renters are losing confidence in housing as less say it’s a good time to buy a home, according to the National Association of REALTORS® Housing Opportunities and Market Experience survey. Part of this is due to a misconception among first-time homebuyers about how much of a down payment is needed to buy a home, according to NAR.

In NAR’s third quarter HOME consumer survey, respondents talked about their confidence in the U.S. economy and other questions about their housing expectations. Less than 20% in each age group and income bracket indicated that they need 10% or less to buy a home. Those over 65 and under 35 were the most likely to think they need more than a 20% down payment at 43% and 37% respectively.

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Community Real Estate is a Real Estate Brokerage committed to provide quality professional services. We are a full service company with in-house lending. We are Realtor®s and HUD approved selling agents. We are expert Short Sales, Listing Agents and Buyers’ Agents. We also specialize in First Time Buyers, Second Homes, Vacation Homes, Investment Homes, Leasing and Rentals, Relocations, Probate sales, Vacant Land sales, Manufacture Homes/Mobile Homes sales, Foreclosures, Distress Properties and REO listings and sales. We support our America’s Heroes. We look forward to meeting you and your needs!

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