People often ask us where we think the market is headed.
Of course, without a magic crystal ball, it's impossible to tell the future, but indicators like this might mean that the Denver Metro area, which is very popular with homebuyers, will see a very strong housing market continue into Spring.
Young buyers could return to the housing market in droves this spring, according to a report due to be released Wednesday.
First-time home buyers now make up 52% of prospective buyers looking to purchase in 2017, up from 33% a year earlier, according to an analysis of web searches performed by Realtor.com, a real-estate listing website.
Buyers typically begin searching several months in advance, so the jump in activity could translate to increased purchases by first-timers in the spring and summer of next year.
The absence of first-time buyers has been one of the biggest abnormalities of the housing market in recent years. If they return, it could provide a big boost to sales and serve as a sign that the housing market is returning to normal after years during which most new households being formed were apartment-dwellers.
œThe first-time buyer is ready to come back, saidJonathan Smoke,chief economist for Realtor.com.
Read the rest of the story in the Wall Street Journal.
Wondering what this information might mean for your home search? Or your home's value?
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