Fannie Mae:Two-thirds of renters want to buy a home someday

According to Fannie Mae’s 4th Quarter National Housing Survey(Oct.-Dec. 2011), ” two-thirds of renters surveyed said they hope to buy a home in the future — a trend that subsists across all education levels and demographics.”

Here’s more info:

http://www.housingwire.com/article/americans-committed-homeownership-goals-fannie

This is a trend we are definitely seeing here locally in King County as inventory levels lower than the median price continue to decline.  I have several clients looking to buy their first home running into multiple offer, highest-bidder situations.

We are seeing all the signs of a residential real estate market in transition.  Here’s a graph showing the absorption of inventory in King County below $300,000.  This number is up 101.3% over the same time a year ago.

King County Absorption of Inventory under $300,000

Posted on March 30, 2012 at 10:51 am
Nate Thornton | Category: Uncategorized

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