According to the National Association of Realtors, household formation is steadily rising. For a large group of young Americans who, due to the recession and an uncertain real estate climate, were previously wary of moving out of their parents’ homes or were forced to move back in with them, things appear to be looking up.
NAR is reporting that the number of households increased by 1.1 million in 2011 and 1.2 million in 2012. The increase is tied to a gradual gain in the job market as well as the steady overall upward climb by the economy.
These young household creators, however, seem still be a bit hesitant about actually purchasing homes. NAR states that most of the gains are being felt in the rental market. This spike in demand has been the catalyst to a consequent increase in apartment complex construction projects, which definitely bodes well for the job market at least. Homeownership still remains relatively low in comparison, but with all the encouraging news that echoes a steadying economy and stabilizing the housing market, more and more young Americans may be exploring the option of buying homes in the near future.
That means they’re going to come looking!
Typically, most home buyers (or potential buyers) first turn to the Internet before even thinking about getting in touch with a real estate professional. That means they’ll be heading to Homes.com and, hopefully, to you for help.
Homes.com sees 11 million monthly visits. That means that real estate agents who have their listings on Homes.com have a direct line to a truckload of prospects you might be interested in creating a household this year. If you aren’t a partner with us, now is a great time to get involved! Check out our homepage for more info.