What’s the current sentiment for millennial homebuyers?
A recent survey from Newsweek showed that millennial homebuyers are feeling more positive about the housing market. 55% of individuals surveyed in the 27-to-40 age bracket replied that now is a good time to buy a home.
Millennials were also the least likely to stay out of the market due to high mortgage rates. 50% of millennials surveyed stated that they would still look to buy if mortgage rates surge past 8%.
Hannah Jones, the senior economic research analyst at Realtor.com, said, “Younger respondents tended to be more willing to move forward and bullish on purchasing a home, even given tough housing conditions.”
Also, 43% of millennial respondents stated they will be able to afford a home within in the next year, and 32% want to acquire a home in the next five years.
How is Austin’s housing market performing in 2024?
A recent article from Culture Map showed that the Austin, TX housing market is off to a hot start to 2024. Data from the Austin Board of Realtors (ABoR) showed that home sales in the Austin-Round Rock-Georgetown metro area for January 2024 were up 4.3% compared to January 2023. Pending sales were also up 3.8% when comparing the same time period.
ABoR economist, Clare Losey, Ph.D., stated, “Mortgage rates peaked in late October before declining in November and December, providing a boost to buyer’s purchasing power, which is borne out in the increase in residential homes sold in January. While there are more options available for homebuyers in our market today, more work needs to be done to ensure more affordable housing is available in Central Texas.”
How much does the ultimate man cave cost?
A 16,000 sq. ft. mansion in the Phoenix, AZ area is on the market. That’s not completely unheard of, but the 4-acre property comes with multiple structures and furnishings, including what is billed as the ultimate man cave.
The 6,000 sq. ft. space boasts a go-cart track, a golf simulator, a batting cage, a gaming station, an underground shooting range, and a spa area.
The home also comes with a near full-sized basketball court with a scoreboard and stands, a gorgeous pool, and a two-story closet.
The ask price is $20 million. That’s almost four times what the current owner paid for the property, but it’s clear that there have been more than enough upgrades to cover the difference.
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