If you were in the market for a new home in Melbourne, FL this year, you know that inventory was incredibly low making home prices rise. You were part of a seller’s market. Conversely, sellers had a huge advantage. Many of you on this end of the deal were able to sell your home quickly and for the right price. No matter what side of the coin you were on, A Mother’s Touch Movers was thrilled to be a part of your Melbourne, FL move. We helped so many of you pack up and transition to the next phases of your lives and we could not be more excited about what will happen now. Thank you to our dedicated customers. We are proud to be able to serve you with the best in professional moving services. From start to finish, we will treat you with a mother’s touch.
The recent trends in real estate had many scratching their heads. If you were boggled by the market, you were not alone. Now that we are almost at the end of 2018, let’s take a look back at what recent data from the National Association of Realtors reveals about the housing market. You may be surprised.
In 2018, single-family homes ruled the day. Roughly 82% of all homes sold this past year were single-family detached. Of recent home purchases, the average size was a 3/2 at a size of 1,900 square feet. It is also interesting to note that the majority of home purchases were local with only a 15-mile difference between locations. Townhomes made up just 8% of the homes purchased. Seniors made a showing this year too. Approximately 18% of this age group chose to purchase townhomes while around 11% went for row homes or townhomes.
How people found their homes was interesting to note too. Data from this year suggests that most buyers start their search on the internet. This is not surprising to be sure, but it is interesting to note that 44% of all buyers started on the internet first while only 17% connected with a realtor before they began the process. Online resources were touted as helpful in the home buying search by a whopping 88% of homeowners. Online photos and property information were vital to buyers as well. The average home search lasted 10 weeks for buyers and had them looking at up to 10 homes before making a final decision.
The percentage of first-time homebuyers fell to 33% in 2018 because of low inventory and higher home prices and mortgage rates. Married couples made up 63% of recent home buyers while single females and single males also made a huge contribution to the mix. Households comprised of multiple generations made up 12% of purchases as many families are now choosing to care for aging parents and older children returning home. Veterans found homes this year too, making up 29% of the market.
The purchase of a new home is incredibly exciting, and so many of you found your ideal home this year, congrats! The process can also feel daunting if you do not have the right team on your side. A Mother’s Touch Movers knows you have choices when it comes to moving services in Brevard County. This is why we treat each and every one of our clients like family. Contact our office today for more information and let’s get you moving!