As home equity levels improve, the move-up buyer is back on the market. More move-up buyers are selling their current properties to replace them with pricier homes, according to the latest report from FNC, a real estate data firm.
The move-up buyers are coming with larger down payments on new homes as recent improvements in home equity levels have allowed them to move.
"An important sign of a healthy and sustainable recovery is increased housing turnover driven by trade-up buying, which is more or less discretionary spending," says Yanling Mayer, FNC’s director of research. "These buyers are typically more responsive to market conditions and financial incentives.” Read more.....
Resource: Realtor.com
Daily Real Estate News | Wednesday, September 18, 2013
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