Snoqualmie Pass Real Estate, Mortgage, and the Economy – Homebuilders Look To Starter Homes

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Homebuilders switch gears, look to starter homes

Begin move away from luxury homes

Nearly all major builders are making this shift as Millennials, the newest generation of homebuyers who were born from the early 1980s to mid 1990s, increase their presence in the market, according to the article.
From the article:
“There’s an increasing confidence level in that part of the market,” said Gregg Nelson, co-founder of California home builder Trumark Cos. “The recovery is finally starting to take hold in a broader way.”
While the share of first-time buyers fell to a 30-year low in 2015 of 32%, that number increased in 2016 to 35%, according to the article. The historic average of the share of first-time buyers sets a bit higher at 40%.
From the article:
The housing recovery has been divided, as the luxury market has soared in recent years while the more affordable end of the market has struggled to make up for lost ground. Tough lending standards, slow wage growth, growing student-debt obligations and a newfound fear of ownership have combined to crimp demand among millennials in particular. The return of the starter-home market means the housing bifurcation is finally starting to narrow.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Homebuilders Look To Starter Homes

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Homebuilders switch gears, look to starter homes

Begin move away from luxury homes

Nearly all major builders are making this shift as Millennials, the newest generation of homebuyers who were born from the early 1980s to mid 1990s, increase their presence in the market, according to the article.
From the article:
“There’s an increasing confidence level in that part of the market,” said Gregg Nelson, co-founder of California home builder Trumark Cos. “The recovery is finally starting to take hold in a broader way.”
While the share of first-time buyers fell to a 30-year low in 2015 of 32%, that number increased in 2016 to 35%, according to the article. The historic average of the share of first-time buyers sets a bit higher at 40%.
From the article:
The housing recovery has been divided, as the luxury market has soared in recent years while the more affordable end of the market has struggled to make up for lost ground. Tough lending standards, slow wage growth, growing student-debt obligations and a newfound fear of ownership have combined to crimp demand among millennials in particular. The return of the starter-home market means the housing bifurcation is finally starting to narrow.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com