Are Millennial buyers different? I fail to understand why I keep reading studies/articles about Millennial buyers being so different from any other buyer. The fact is we all want, what we all want. It doesn’t matter what age we are, or what year we were born. Finally someone has written a report on this subject. I thought I would share it with you.
Are Millennial Homebuyers Really Different?
A report has been released by Porch analyzing the homebuying trends of millennials as they enter the housing market in ever-greater numbers, including their preferences in homes and distinguishing financial characteristics. While millennials do have their own particular taste and economic set of conditions. In many ways they are not as nomadic or anti-establishment as often portrayed. 69% of millennials feel owning a home is considered integral to living the American dream.
Of all the U.S. homes sold in the past year, 36 percent were purchased by millennials. This makes millennials a vital and growing part of the industry. This number is only set to grow. Millennials are projected to take out 43 percent of total U.S. mortgages by the end of the year. Comparing a survey of 1573 millennials released by Consumer Reports with their own recent survey of 2000 American homeowners across all age groups, Porch found that the home improvements most desired by millennials mirror those desired by U.S. homeowners regardless of generation. Topping the list for both millennials and all age groups is an up-to-date kitchen, energy efficiency, and a desire for additional living space.
To Read The Entire Article From The MReport Click Here
Regardless of what age your are, if now is the time for you to start your search for your dream home, contact us. We are happy to help you get started in your search and turning it into your reality!