Younger people are being forced to compete with baby boomers for the limited inventory of available homes, and they’re losing out and therefore make up a smaller share of home buyers today than in previous years. That’s according to a report from Zillow that looked at the age, sex, race and income of home buyers
Armed with savings from the pandemic, young adults eye homeownership
July 6, 2021 by
Zillow believes that most millennials and Gen Zers are enthusiastic about the idea of owning a home and that a good number of them will look to buy one in the near future. A recent survey on the housing preferences and influences on the younger generations found that three in five are planning to use
The 2021 Spring Real Estate Market and 40 Year Old Millennials
April 4, 2021 by
The leading edge of the millennial generation is turning 40 this year (and the oldest baby boomers are 75). The millennial story has not been good. Over the decades, they’ve experienced the Great Recession, massive student loan debt, stagnant wages, rising costs of living, and the Covid-19 pandemic. Entering the early part of middle age,
5 Effective Tips for Selling Homes to Millennials
December 23, 2020 by
With Millennials now coming of age in the workforce and baby boomers set to retire, they are said to represent the most rapidly expanding consumer base in the U.S. alone. Yet according to Ballennetwork.com, the generation that came after the Gen X’ers, and who were born between 1980 and 2000, are not an easy sell
The Impact of Millennials and Gen Z on Real Estate
December 11, 2020 by
Even though everyone likes to bash the Millennials and Gen Z as being lazy and unfocused, they are currently the ones overturning the housing market. Turns out that young adults in their late 20s and 30s are now established in their careers, managed to shake off their student loans, and would like to take roots.
This is why millennials struggle to buy homes
December 7, 2020 by
The homeownership rate of millennials is 8% lower than it was for Gen Xers and Baby Boomers when they were the same age, according to a new report by the Urban Institute. So why are younger generations struggling to obtain a home at the same rate as their parents were? In its Millennial Homeownership report,
Millennials underestimate the cost of a down payment
October 4, 2020 by
More millennials have been motivated by the COVID-19 pandemic to think about buying a home, but do they have enough money saved to go ahead and buy one? That was one of the questions posed by Point2Homes in a recent survey, which found that 74% of millennials, aged 25 to 40, say they’re interested in
Millennials are driving the housing market rebound
September 1, 2020 by
Younger home buyers aged in their 20s and 30s, who were once seen as being reluctant to enter the housing market, are now driving its recovery during the COVID-19 pandemic, according to the Wall Street Journal. Even before the pandemic began, so-called millennials were starting to increase their home buying activity, accounting for more than
Millennials and first-time buyers eye condos
August 26, 2020 by
Condominiums are selling for an average 16% lower than single-family homes, and that could make them more attractive for millennials and first-time home buyers, according to a new report by CoreLogic. The report says millennials could be pushed “toward buying condos because they tend to be more affordable than single-family homes and because condos typically
Thinking of Selling or Renting Your Home? It’s Time to Learn about the Millennial Market
May 27, 2020 by
If the worldwide COVID-19 pandemic and related financial fallout have you thinking about selling or renting a property in the coming months, it helps to get up to date on relevant real estate trends. In particular, be aware that the younger millennial generation is having a significant impact on real estate. Many people don’t realize
