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.”
This is especially good news for the Lake St.Louis, Dardenne Prairie, Wentzville, O’Fallon, & St. Peters real estate markets, particularly our waterfronts and relocation buyers! List with confidence that the higher end buyers are out there! Check in often to this blog or on The VIP Group website or Facebook page for more market news, and call VIP Group when you are ready to buy or sell!