Back-to-School Mentality Drives Housing for Fall
Back-to-School Mentality Drives Housing for Fall.
Back-to-School Mentality Drives Housing for Fall
Forty percent of real estate agents and brokers say the end of vacation season will likely bring a refocus on real estate and a primary driver behind fall home sales, according to a recent survey. ERA Real Estate has dubbed it the “ back-to-school mentality” for the real estate market.
ERA Real Estate surveyed brokers and agents to determine fall trends. Twenty percent of brokers and agents say that buyers’ desires to be in a new home for the holidays as a main motivator in getting more people moving, and 10 percent say a main motivation will be buyers who want to complete their home purchase before the end of the year so they can take advantage of the tax benefits of home ownership.
ERA expects the market of buyers to be made up of the following mix in the fall:
- 27% first-time home buyers
- 20% move-up buyers
- 17% downsizing/retiring buyers
- 14% investors
- 11% military relocations
- 6% vacation home buyers
- 5% other
Source: “Fall Trends in Housing: Back-to-School Mentality Drives Activity,” RISMedia (Sept. 10, 2012)
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