Tuesday, September 28

Zillow

Buying A Home, Economy, Features, Gen X, Homeowner, Housing Affordability, Housing Shortage, Markets, Millennials, Real Estate, us home prices, US housing boom, us housing market, Zillow

Meet the typical American homebuyer, who is middle-aged, lives in the south, and went way over budget for their house

The American Dream of a house with a white picket fence and a dog in the yard is hanging by a thread this year.Record-low mortgage rates and the era of remote work kicked off hot demand for a home that collided headlong with a historic housing shortage, resulting in real estate that was nearly unattainable. Sky-high prices and fewer homes available have been no match for homebuyers , who've found themselves caught in cutthroat competition.But some came out on top in bidding wars. Zillow's 2021 Consumer Housing Trends Report took a look at homebuyers in 2021. It found that while the average homebuyer is middle-aged, many are in their 30s. For most, it wasn't their first time buying a home, and the hunt wasn't easy. Many had to...