Mar
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Realtors and Zillow Expect a Surge of First Time Buyers on Market this Spring

March 25, 2014

first time home buyersOriginally posted by the economists at Zillow and then reported on by the experts at Realtor.com, there’s a potential avalanche of buyers waiting in the wings to get in on the housing market this season. Among renters polled, 10 percent living in the 20 largest housing markets said they wanted to buy a home in the next year. That could be as many as four million more first time home buyers joining the market, double the number of first time homebuyers in 2013.

While the full 10 percent won’t be able to obtain financing or find the home they want (or they may change their minds or hit some other roadblock to homeownership in 2014), that’s still an astonishing number of buyers entering the real estate market nationwide.

Chicago is still dealing with issues of low inventory and the lurking shadow of zombie foreclosures stalling the market, so these renters-turned-buyers could be a big boost to the Chicago real estate market.

If you are a renter in Chicago, let us know in the comments below why you are or aren’t among those looking to buy this year!

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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