Millennials are now major players in the home buying arena, according to the recent Home Buyer and Generational Trends report released by the National Association of Realtors:
1. Millennials accounted for 35% of buyers in 2015. This is up from 32% in 2014, and is the third year in a row Millennials have composed the largest group of recent buyers.
2. In 2015, the number of Millennials purchasing in an urban or central city area decreased to 17% from 21% in 2014. Suburbia-phobe? Perhaps not.
3. They have help getting their foot in the door. Twenty-three percent of Millennials used a financial gift for (or toward) their down payment.
4. An online search was the first step for 56% of Millennials, whether they were looking for properties or searching for information about the home buying process.
5. Almost 90% worked with a Realtor to buy their home.
Are you a Millennial looking for your next home? Work with an agent prepared for the changing marketplace. Find oneHERE
Source: "National Association of Realtors Home Buyer and Generational Trends Report 2016," based on a July 2015 survey of 6,406 recent home buyers who purchased a primary residence between July 2014 and June 2015.
Author:John Brooks Phone: 972-693-5658 Dated: September 21st 2016 Views: 177 About John: Hello! My team and I are passionate about helping people build stability and wealth through solid in...
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Hello! My team and I are passionate about helping people build stability and wealth through solid investments in real estate, either for their personal residence or for investment purposes. We also LOVE to market and SELL your existing property to maximize your return and make the process as smooth as possible for you. Give us a shout today for a relaxed conversation about your real estate goals!
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"John Brooks "JB" is high energy and eager to serve. It is obvious that he loves what he does and is VERY good at it! His knowledge of what is important was so well blended with his insightful perception of what we wanted in a house. He employs a network of experts both directly on his team as well as a surrounding group of contractors to fit all of your needs. 2 transactions for us and we will be back for more. JB is the best!!! He proved it to us."