Industry News Market Update News

Millennials are at the forefront of today’s housing market

Photo by Jessica Castro on Unsplash

According to a recent study, millennials were the largest group of home buyers in the U.S. for the fourth consecutive year. While the group has been slow to enter the market, more than 90 percent of millennials say they eventually want to buy a house, and many are taking steps to do just that. Many millennials in Seattle may be looking to purchase a home – Seattle ranks fourth in a ranking of search data from Aug. 2016 to Feb. 2017.

Herb Weisbaum | NBC News

Millennials are growing up, settling down and looking to buy a house — for the extra room and the investment opportunity.

Millennials were the largest group of home buyers (34 percent) for the fourth consecutive year, according to NAR’s 2017 Home Buyer and Seller Generational Trends study. By comparison, baby boomers were 30 percent of buyers.

[…] Buyers of all ages are starting their home search online. Not surprisingly, millennials and Generation X buyers (born between 1965 and 1980) are the most likely to do this. But about 90 percent of millennials still use a real estate agent, according to industry data — although the traditional relationship has changed a bit.

To read the rest of the article, click here: Who’s Powering the Housing Market? Surprise! It’s Millennials

Related posts

Room to breathe for buyers in current Seattle condo market


What is your ‘Sleep Number’ in real estate?


Seeing fewer leads? Time to re-engage your direct mail marketing