01/03/2023
Happy New Year 🎆🎊 May this year be your best & most prosperous!
It’s the first Monday of the 2023 New Year and I thought I’d start your morning with 4 Surprising Real Estate facts!
Did you know? 😯
RE Fact #1️⃣: The Demand for Second Homes Has Grown by 99%! 📈
• The state with the largest stock of second homes was Florida with 1.1 million properties. South Dakota has the smallest stock of all 50 states with 20,000 second homes on record.
RE Fact #2️⃣: 50% of Millennial Investors Choose to Invest in Real Estate 🔬💼
• 85% of millennials agree that real estate is a good investment. Owning bricks and mortar is a more appealing and stable asset compared to stock market shares.
RE Fact #3️⃣: Over 17 Million People People Spend Half Their Income on Rent 😳🛑
• The Joint Center for Housing Studies of Harvard University released a report that showed that 1 in 4 renters spend 50% of their income on housing. Many of these people will be looking at buying a home to reduce their monthly outgoings.
RE Fact #4️⃣: 34% of Buyers Were First-Time Homeowners in 2021 🔑🏠
• The National Association of Realtors (NAR) showed that the typical age of a first-time buyer was 33 years old. When asked, their main reason for buying a house was to own their home. For most people, buying a home is the biggest financial decision they will ever make.
Are you interested in beginning your journey or have questions? Let’s chat! 💬👋🏽
Zoya J., REALTOR®
