North America

American real estate market set to boom as half of Americans plan to buy

The American real estate market is set to prosper this year as some 54% of Americans say that they are planning to buy a home in the next five years.

This property news shows a 12% increase compared to last year, according to the 2017 BMO Harris Bank Homebuyers Report.

America’s economy seems to be improving as more people can now put down a reasonable deposit to get them on the property ladder.

The people asked in the report have said that they are happy to pay an average of $277,000 for a new home, which is approximately £214,000 as well as a 32% deposit on the value of the property.

Over three-quarters of those surveyed has highlighted that they want to stick to their original budget of buying a home before even beginning a property search.

Having a budget in mind is crucial as it directs the property search in the way that’s desired. It always helps when talking to property professionals, as they know how to lead expert property advice. Equally, realtors and property experts can help to find the buyer the most suited property requested.

The report, which was conducted by Pollara will demonstrate an understanding for those who are thinking of investing in American real estate. The survey is a suffice representation of America’s housing market as over 2,500 American adults took part.

A strong demand from buyers in America should help to increase the home values across the state while attracting international investors. Not only that, but this great property news about American’s real estate intentions makes it more exciting for those looking to sell their property. Knowing that more buyers are on the hunt this year will encourage those looking to sell their property feel more comfortable and more optimistic.

The senior vice-president and head of retail banking for Chicago Metro North (BMO Harris Bank), Steven Zandpour, said: “Future buyers are encouraged about their prospects for a home purchase in the near future, and they’re keeping a healthy budget top of mind.

“Home ownership is a fulfilling goal for many and it doesn’t have to be a cumbersome process.

“Our mortgage specialists aim to walk each of our customers through each step, helping them along the journey and understanding what matters to them the most.”

The American real estate market is offering a lot of support and so are property companies all over the world. With the right help and insights to property news too, investors and international buyers can keep up to date on the ways to buy a home in select countries and to analyse the value of the property in mind with more confidence and reassurance.

Written by Gemma Smith

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