March 17, 2015 8:27 am Insights & Opinions
Millennial Real Estate Buyers – Part 1
Due to the economic recession of recent years, millennial buyers (people born from the early 1980s through the late 1990s) have lacked the financial stability to buy real estate…until now, that is. With the job market continually improving and more millennials moving out of their family homes, the housing market is finally seeing a significant uptick in millennial home buyers.
A recent article from the New York Times says another major contributing factor to millennials finally seeing the possibility of home ownership is the low interest rates. According to a recent study by Redfin, 38 percent of millenials say they would be willing to postpone plans for a wedding or honeymoon to save for a down payment on a home.
Look to our next post about what millennial home buyers want in a real estate agent now that they have enetered the housing market.