Andy Medina - Las Vegas Realtor

  Gen Z: The Next Generation Is Making Moves in the Housing Market Generation Z (Gen Z) is eager to put down their own roots and achieve financial independence. As a result, they’re turning to  homeownership . According to the latest  Home Buyers and Sellers Generational Trends Report  from the  National Association of Realtors  (NAR), 30% of Gen Z buyers transitioned straight from living under their parents' roofs to owning their own homes. If you’re a member of this generation, and you’re interested in pursuing your own  dream of homeownership , here’s some information you may find helpful on why and where your peers are buying. The Reasons Gen Z Want To Become Homeowners A recent survey by  Rocket Mortgage   identifies  some of the top  motivators  driving Gen Z buyers to purchase a home: “ Of those surveyed,  34% said that starting or growing their family was their main motivation  to buy a home. . . .   Alon...

  Why You Don’t Need To Fear the Return of Adjustable-Rate Mortgages If you remember the housing crash back in 2008, you may recall just how popular adjustable-rate mortgages (ARMs) were back then. And after years of being virtually nonexistent, more people are once again using ARMs when buying a home. Let’s break down why that’s happening and why this isn’t cause for concern. Why ARMs Have Gained Popularity More Recently This graph uses  data  from the  Mortgage Bankers Association  (MBA) to show how the percentage of adjustable-rate mortgages has increased over the past few years: As the graph conveys, after hovering around 3% of all mortgages in 2021, many more homeowners turned to adjustable-rate mortgages again last year. There’s a simple explanation for that increase. Last year is when mortgage rates climbed dramatically. With higher borrowing costs, some homeowners decided to take out this type of loan because traditional borrowing costs were high, and an...