One of the ultimate goals of the American Dream is to have a home of your very own to enjoy. June is our homeownership month and what better way to celebrate than to help your clients find the home of their dreams! This month we want to ensure our REALTOR® members showcase the benefits of homeownership, especially to the current millennial generation who have been searching for a home of their very own.
REALTOR® members should strive to ensure that all Americans are given the opportunity to find the perfect home for their needs, which not only is a goal of many but helps to “create a pathway to economic well-being and intergenerational wealth-building.” There are a number of educational materials to help members assist their clients to find safe and affordable housing.
Homeownership is essentially for Americans to build financial security as the 65.5% of Americans who own homes with a net worth of their homes are nearly 40 times more than their income. The total value of owner-occupied has risen by $8.2 million within the last decade with the number of middle-income homeowners having increased by almost one million.
According to NYSAR, the typical homeowner has accumulated more than $200,000 in housing wealth due to the ongoing price appreciations. The one issue that current buyers should be concerned about is the number of available homes for sale. This is an ongoing issue and is one of the leading causes of price appreciation and why so many are living in apartments.
Take advantage of your NYSAR membership to receive helpful tips, news, and information on how you can better assist your clients to achieve their dream of the perfect home!
