Are you done yet? If you think your holiday shopping is taking a while and costing a lot, check out what MN first time home buyers are up against according to research from Zillow and Allianz:
- MN First time buyers typically rent for six years. Consumers rented an average of 2.6 years before buying in the 1970s
- MN First time home buyers are spending 2.6 times their annual incomes on homes. Consumers spent approximately 1.7 times their annual incomes on homes in the 1970s
While people might not be home shopping for six years, the idea of homeownership is out there and on their brains while they’re writing those rent checks. This means MN Realtors and MN lenders will likely be in touch with people for longer periods of time before they buy their first MN home. And, if they’re NOT in touch, they should be. With everything that’s happened in the last few years and the new regulatory climate, it’s more important than ever to be very intentional with our marketing and make sure we’re educating the public and building solid, long-term relationships. There are simple ways to do this which are effective and compliant. Let’s talk about communicating to consumers in this new world – while prices and financing are still so favorable.