Majority of Americans Plan on Buying Homes in Near Future Posted on April 20, 2016 by socialmedia by According to the BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said that they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. Looking at current mortgage rates, a 21% down payment could be grossly overpaying! Make sure to reach out to your Wisconsin Mortgage Corporation representative to find out the options that you have for putting down less!The report also included other interesting revelations. Those Looking to Buy 74% of those looking to buy a new home will consult with a real estate agent 59% said they will visit online real estate websites 37% will seek recommendations from friends and family 78% plan to get pre-approved before seriously searching for a home Those Who Already Own 75% of current homeowners set a budget before looking for a home, 16% spent less than planned, while 13% went over their budget 63% of American homeowners spent under six months looking for a new home before they made a purchase 8% bought their home without participating in an active real estate search – or even any plan to buy at all – because a specific property caught their attention. All of these statistics are very uplifting! The spring market is busy right now and is only getting busier! The numbers surrounding the real estate market are rising and haven’t looked this good since 2006. However with limited home inventory, make sure to talk to your Shorewest, REALTOR® so they can get you the best deal and find the best home before it is scooped up. Source Credit: Keeping Current Matters Tags: first time home buyers, Home Buying, home inventory, home owners, Homeownership, shorewest, shorewest family, Shorewest Realtors Categories: First Time Home Buyers, Home Buying, Real Estate News Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ Home Property Search Map Search About Me My Listings My Recently Sold My Reviews Videos Contact Me Reset Password Enter the email address for your account and we will email you instructions on how to reset your password Email* Reset My Password × Sign In Email* Password* Sign In Reset Password New to myShorewest? 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Save Price Tracker Price Tracker History Remove tracker Price Tracker for: $10,200,000 Price Tracker for: 12/21/2015 Days On Market: 62 Days Original List Price: $13,000,000 Current Property Price: $12,200,000 Remove tracker ×