Who will be buying homes in 2013? You are selling your home and hear that there are so many buyers out there on the market but not enough homes, you may be wondering who are these people that are out there buying homes. According to the Business Insider, there will be 5 different types of buyers:
- First time home buyers – they have been waiting for prices to get to the low point and since prices are starting to rise they will be buying now
- Move up buyers – these buyers have been waiting to get more money for their existing home so they can purchase a larger or better home. With prices increasing they want to sell their current home and still get a deal on a bigger and/or better home.
- Move down buyers – their home is most likely paid off and they want a good deal on something smaller, yet the most money for their current home, so with prices rising they will enter the market.
- Rebound buyers – these are the buyers that lost their homes to foreclosure at the start of the housing crisis and have been renting. For many, they have now repaired their credit enough to get back in and actually buy a home again.
- Investors – yes, investors will still be out there trying to find the deals to either flip or rent. Deals will be harder to find but they will be out there and investors realize they can get a great return on their money