Posts Tagged NAR

Millennials most active generation of home buyers for 5th consecutive year

millennial woman home buyer

Millennial home buyers are more active than any other generational group, but low inventory and climbing real estate prices continue to stall activity. According to the 2018 Home Buyer and Seller Generational Trends Report from the National Association of Realtors (NAR), 36% of all home purchases were made by millennials over the last year. This makes millennials–those who became adults around the year 2000–the most active home buying generation for the fifth consecutive year. 

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Home prices are rising fast. Here’s what buyers can do to get a good deal.

Shortages in existing inventory and buildable lots along with the rising costs of construction materials have made home prices increase at a more rapid rate. For today’s home buyers, it can seem challenging to find a home that meets their needs while also being affordable. Fortunately, there are things today’s buyers can do to find an affordable path to homeownership. According to the National Association of Realtors (NAR), home price increases softened a bit by the end of last year; however, a simultaneous uptick in existing home sales further depleted an already tight inventory. This has caused home prices to

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Existing-Home Sales Hit 11-Year High

Housing chart with blue arrow

The number of existing-home sales increased as a whole for 2017, reaching an 11-year high despite December’s sales subsiding from the previous month. According to the National Association of Realtors (NAR), total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 1.1 percent in 2017 to a 5.51 million sales pace and surpassed 2016 (5.45 million) as the highest since 2006 (6.48 million).

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