[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fdrxxpyeah1fd":3,"$ffeh0925h8cuz":47,"$fbwk2pqjjqsc7":51},{"item":4,"previous":35,"next":41},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":33,"updatedAt":34},1742,"buyer-interest-is-growing-among-younger-generations","Buyer Interest Is Growing among Younger Generations","The demand for homes this year is extraordinary as record-breaking numbers of hopeful buyers continue to shop for homes. In a normal year, the peak homebuying season comes to a close by early fall. However, 2020 is anything but a normal year, and the housing market is no exception. Lawrence Yun, \u003Cem>Chief Economist\u003C\u002Fem> for the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR), \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fnewsroom\u002Fexisting-home-sales-soar-9-4-to-6-5-million-in-september\">explains\u003C\u002Fa>:","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F10\u002F27161955\u002F20201028-KCM-Share.jpg","The demand for homes this year is extraordinary as record-breaking numbers of hopeful buyers continue to shop for homes. In a normal year, the peak homebuying season comes to a close by early fall. However, 2020 is anything but a normal year, and the housing market is no exception. Lawrence Yun, \u003Cem>Chief Economist\u003C\u002Fem> for the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR), \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fnewsroom\u002Fexisting-home-sales-soar-9-4-to-6-5-million-in-september\">explains\u003C\u002Fa>:\u003C!--more-->\r\n\u003Cblockquote>\u003Cem>“\u003Cstrong>Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during this season\u003C\u002Fstrong>…I would attribute this jump to record-low interest rates and an abundance of buyers in the marketplace, including buyers of vacation homes given the greater flexibility to work from home\u003C\u002Fem>.”\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>What’s drawing so many buyers to the market?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nAs Yun mentioned, \u003Cstrong>record-low interest rates\u003C\u002Fstrong> are key. Today’s rates are strengthening \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2020\u002F09\u002F22\u002Fthe-cost-of-a-home-is-far-more-important-than-the-price\u002F\">purchasing power\u003C\u002Fa> for buyers, too. Sam Khater, \u003Cem>Chief Economist\u003C\u002Fem> at \u003Cem>Freddie Mac\u003C\u002Fem>, \u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002F\">emphasizes\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“Mortgage rates today are on average \u003Cstrong>more than a full percentage point lower\u003C\u002Fstrong> than rates over the last five years.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nIf you’re a homebuyer right now, there’s no question that you want to take advantage of this opportunity – and you’re not alone. Competition among buyers is definitely increasing as more buyers enter the market and mortgage interest rates remain so low.\r\n\u003Ch4>\u003Cstrong>Who’s planning to buy a home right now?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nToday’s affordability is appealing to all generations and seems to be especially attractive to younger buyers who want to begin growing their \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2020\u002F07\u002F10\u002Famericans-rank-real-estate-best-investment-for-7-years-running-infographic\u002F\">wealth\u003C\u002Fa> through homeownership. There’s a distinct increase this year in the percentage of those in younger generations searching for homes. The \u003Cem>National Association of Home Builders\u003C\u002Fem> (NAHB) \u003Ca href=\"http:\u002F\u002Feyeonhousing.org\u002F2020\u002F10\u002Fcovid-19-has-impacted-home-purchasing-plans\u002F\">notes\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“Between the third quarters of 2019 and 2020, the share of Gen Z adults planning a home purchase rose three points to 14%. Millennials, however, are the generation most likely to be considering buying a home (22%).”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nHere’s a graph showing the year-over-year increase in homebuying interest by generation:\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2020\u002F10\u002F20201028-MEM-Eng-1.jpg\">\u003Cimg class=\"aligncenter wp-image-43262\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2020\u002F10\u002F20201028-MEM-Eng-1.jpg\" alt=\"Buyer Interest Is Growing among Younger Generations | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>According to Mark Fleming, \u003Cem>Chief Economist\u003C\u002Fem> for \u003Cem>First American\u003C\u002Fem>, millennials are reaching their prime \u003Ca href=\"https:\u002F\u002Fblog.firstam.com\u002Feconomics\u002Fwhy-has-housing-market-potential-rebounded-during-the-pandemic\">home-buying years\u003C\u002Fa>, a likely driver in this increase:\r\n\u003Cblockquote>\u003Cem>“Record low mortgage rates and \u003Cstrong>millennials continuing to age into their prime home-buying years\u003C\u002Fstrong> has boosted demand, but a lack of housing supply remains a challenge.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>What’s the biggest challenge for today’s buyers?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nFinding a home, however, as Fleming notes above, is clearly a challenge today. Yun also explains:\r\n\u003Cblockquote>\u003Cem>“There is no shortage of hopeful, potential buyers, but inventory is historically low.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nWith so many buyers actively searching for homes this year and so few houses for sale, it’s more important than ever to work with a trusted real estate professional to navigate today’s market. From \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2020\u002F08\u002F27\u002Fwhy-is-it-so-important-to-be-pre-approved-in-the-homebuying-process\u002F\">pre-approval\u003C\u002Fa> to \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2020\u002F10\u002F16\u002Fhow-to-prepare-for-a-bidding-war-infographic\u002F\">bidding wars\u003C\u002Fa> and guidance on \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2020\u002F10\u002F27\u002Fhow-down-payment-assistance-opens-the-door-to-homeownership\u002F\">down payment\u003C\u002Fa> assistance resources, having an agent by your side might make the difference in your ability to land your dream home.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nLet’s connect if you’re ready to buy a home. More buyers mean more competition, so you need an expert guide to help you stand out from the crowd.","\r\nLet’s connect if you’re ready to buy a home. More buyers mean more competition, so you need an expert guide to help you stand out from the crowd.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2020\u002F10\u002F20201028-MEM-Eng-1.jpg",false,[17,21,25,29],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},35,"Mortgage Rates","mortgage-rates",{"id":30,"name":31,"slug":32},38,"Move-Up","move-up","2020-10-28T10:00:32Z","2020-12-03T19:15:20Z",{"id":36,"slug":37,"title":38,"featuredImage":39,"publishedAt":40,"contentType":10,"isVideo":15},1741,"how-down-payment-assistance-opens-the-door-to-homeownership","How Down Payment Assistance Opens the Door to Homeownership","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F10\u002F26122554\u002F20201027-KCM-Share.jpg","2020-10-27T10:00:11Z",{"id":42,"slug":43,"title":44,"featuredImage":45,"publishedAt":46,"contentType":10,"isVideo":15},1743,"three-ways-low-inventory-is-a-win-for-sellers","Three Ways Low Inventory Is a Win for Sellers","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F10\u002F28134933\u002F20201029-KCM-Share.jpg","2020-10-29T10:00:49Z",{"cover":48,"open":49,"shareSpread":50},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[52,56,57,61,65,69,73,74,78,79,80,84,88,92,96,100,104,108,112,116,120,124,128,132,136,140,144,148,152,156],{"id":53,"name":54,"slug":55},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":58,"name":59,"slug":60},6,"For Sellers","sellers",{"id":62,"name":63,"slug":64},7,"Foreclosures","foreclosures",{"id":66,"name":67,"slug":68},8,"Infographics","infographics",{"id":70,"name":71,"slug":72},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":75,"name":76,"slug":77},34,"Senior Market","senior-market",{"id":26,"name":27,"slug":28},{"id":30,"name":31,"slug":32},{"id":81,"name":82,"slug":83},41,"For Sale by Owner","for-sale-by-owner",{"id":85,"name":86,"slug":87},42,"Featured","featured",{"id":89,"name":90,"slug":91},45,"New Construction","new-construction",{"id":93,"name":94,"slug":95},52,"Luxury \u002F Vacation","luxury--vacation",{"id":97,"name":98,"slug":99},53,"Rent vs. Buy","rent-vs-buy",{"id":101,"name":102,"slug":103},80,"Time-sensitive","time-sensitive",{"id":105,"name":106,"slug":107},81,"Outdated","outdated",{"id":109,"name":110,"slug":111},147,"Internal","internal",{"id":113,"name":114,"slug":115},148,"Do Not Autopost","do-not-autopost",{"id":117,"name":118,"slug":119},320,"Inventory","inventory",{"id":121,"name":122,"slug":123},321,"Agent Value","agent-value",{"id":125,"name":126,"slug":127},322,"Affordability","affordability",{"id":129,"name":130,"slug":131},323,"Buying Tips","buying-tips",{"id":133,"name":134,"slug":135},324,"Downsize","downsize",{"id":137,"name":138,"slug":139},325,"Economy","economy",{"id":141,"name":142,"slug":143},326,"Equity","equity",{"id":145,"name":146,"slug":147},327,"Forecasts","forecasts",{"id":149,"name":150,"slug":151},328,"Selling Tips","selling-tips",{"id":153,"name":154,"slug":155},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":157,"name":158,"slug":159},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]