Homeownership and Thoughts about Labor Day
This week, we celebrated Labor Day. More than a day off, Labor Day is a good day to evaluate the purpose and focus of our labor. For many of us, that means "housing". From early in our lives many of us thought about our future lives with no limits. We dreamed of what jobs we wanted to have and drew pictures of houses representing the type of life we wanted for our families and ourselves. Labor Day celebrates the workers that make this country a place where those dreams can come true.
“Labor Day honors the American labor movement and the contributions that workers have made to the development, growth, endurance, strength, security, prosperity, productivity, laws, sustainability, persistence, structure, and well-being of the country.” -Wikipedia
The 2019 Aspiring Home Buyers Profile by the National Association of Realtors (NAR) talks about what happens daily across this country to allow so many to achieve the American Dream. Much of it is due to the realization of homeownership.
“Approximately 75% of non-homeowners believe homeownership is part of their American Dream, while 9 in 10 current homeowners said the same.”
Still, many people have not yet taken the steps to become a homeowner. Increasing home prices and low inventory may be part of the reason why some people have yet to purchase a home of their own, however, that does not signal a lack of interest. Data from the same report shows there is an increase in the desire to buy in the last year. See the following graph from the 2019 Aspiring Buyers Profile
The good news is, as interest rates remain favorable and more inventory comes to the market, more non-homeowners will be able to fulfill their dreams. Finally, they’ll be able to move into that home they drew when they were dreaming!
If you own a home and are considering selling, now might be the right time. There is an increasing number of buyers in the market ready to buy. Let’s meet to see how you can benefit from the increased desirability of homeownership.