It does seem that around this time of year Boise’s weather gets a proportionately larger share of attention from the news media. This would stand to reason when it breaks records or
What Motivates Boise Housing Buyers and Sellers?
Dated: June 7 2023
When you thumb through this year’s comprehensive housing report on the identities and motivations of U.S. home buyers and sellers, you are reminded anew of how wide-ranging the results turn out to be. It’s a truism among Boise housing industry professionals that you can’t predict just who the ultimate buyer of any property will be—young, old, in-between? It is wisest to create a marketing campaign that appeals to as broad a swath of the public as possible.
The National Association of Realtors® 2023 edition of their Home Buyers and Sellers Generational Trends Report provides the latest word on the subject. It is short on surprises.
For instance, Millenials (ages 24-42) were having trouble becoming first-time homebuyers, while a greater percentage of buyers belonged to the Boomer generation (ages 58-76). Since a large proportion of Boomers already own a house, they can use the equity from its sale to buy a new one, so that’s a given. Since many Millennials are saddled with student debt, the result is naturally to delay their first home purchase.
As always, mathematically pinning down the motivations of homebuyers is a thankless task. Let’s face it: why anyone chooses to buy a house is likely to result from a combination of circumstances in addition to the personal motives of what is often a pair (or more) of buyers—so publishing a chart like “Primary Reason for Purchasing a Home” yields percentages that are actually more squishy than the statisticians would wish. Clustered as equal motivations (at 8% of respondents) are “Retirement,” “Desire for a home in a better area,” “Desire for a smaller home,” and, in a near-tie (7%): “Desire for a larger home.”
Just two Reasons claim larger percentages. “Desire to be closer to family/friends/relatives” gets a 13% chunk, although the difference between ‘family’ and ‘relatives’ begs for a footnote. Also, the greatest number of respondents apparently answered, “Desire to own a home of my own,” a head-scratcher which it’s safe to say accounts for a hefty portion of homebuyer motivation. Helping you make the most of your own Boise housing initiatives is always my motivation—call anytime!
Hey there, I'm Sarah!I have been local to the Treasure Valley for over 25 years (moved here as a kid in the mid 90's)! After many years of working in the service industry I decided to utilize my ....
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