One third of couples buy homes before marriage

 Source: Realtor.com

Skyrocketing home prices are driving more non-married couples to buy a home before getting hitched, according to a survey by realtor.com®. 

Thirty-one percent of all Americans and 41% of 18-to-34-year-olds say they’ve purchased a primary residence with someone they aren’t married to. Additionally, more than half (55%) of
Americans and 68% of 18-to-34-year-olds say they would consider it. The most common co-buyers are romantic partners who are not engaged or married (15%). But Americans are also open to buying with extended family members or roommates.

Read the whole article here to see the different relationship statuses.

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Francis

Silicon Valley real estate
Tre

nds: Local prices and graphs.

How much is your home worth?

Past Two Years: Evolution of Prices, Locally - Silicon Valley

These figures are Average sales prices for all houses, condos and townhomes combined.

SCC:  +41% - between Jan. 2020 and Dec. 2021 - SMC: +40%   

Along with these figures, here are a few data points: 

Nationwide, borrowers had a record $9.4 trillion in tappable home equity collectively, or an average of $178,000 per borrower, according to Black Knight.  In California, home sellers typically pocketed a net cash gain of $322,500 from the sale of their homes in 2021 – a 96% increase from the purchase price.

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Francis

Silicon Valley real estate
Tre

nds: Local prices and graphs.

How much is your home worth?

Consumer Sentiment January 2022

 Tough times for buyers....

My advice, after working through several of those up and down cycles: save yourselves all the rookies mistakes in purchasing a home (like working with a discount agent): hire an experienced professional who is patient and persistent, and well-known in the Realtors community.

For sellers: yes it is easy to find a buyer for your property right now, but it is not a reason to cut corners with your mandated disclosures.  Here again, I would advise the same: work with a seasoned professional. 

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Francis

Silicon Valley real estate
Tre

nds: Local prices and graphs.

How much is your home worth?

California Homebuying Behaviors

California Homebuying Behaviors - Pandemic.

The COVID-19 pandemic continued to drive strong homebuying interest and intensify market competition while changing consumers’ housing preferences and fueling sellers’ home equity, according to C.A.R.’s 2021 Annual Housing Market Survey. 

With remote working becoming the norm, buyers’ reasons for purchasing in 2021 were unchanged since the Coronavirus outbreak, with the top three reasons remaining the same as last year. More than one-fourth of REALTORS® said their buyer clients purchased a home because they were tired of renting;

One in five said their buyers purchased because they desired a larger home; and one in six REALTORS® said buyers bought because they wanted a better location.  Source: CALIFORNIA ASSN. OF REALTORS®

 

More supercharged buying info in this article from the CaliforniaAssociation of Realtors®

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Francis

Silicon Valley real estate
Tre

nds: Local prices and graphs.

How much is your home worth?