Millennial Buying Power Poised to Boost Homeownership

Posted Posted in Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Millennials, Move-Up Buyers

In a recent article by Realtor Magazine, Mark Fleming, Chief Economist of First American Financial Corporation, notes, “The largest group of millennials by birth year will turn 30 in 2020, which puts them entering their prime homebuying years”. The article continues to describe how millennials have more buying-power than the generations that preceded them, making […]

Millionaire to Millennials: The Costly Mistake of Not Buying Now

Posted Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, For Sellers, Millennials, Move-Up Buyers, Rent vs. Buy

On his personal website, self-made millionaire David Bach makes a striking statement:  “Not prioritizing homeownership is the single biggest mistake millennials are making.”  He further stated, “Buying a home is an escalator to wealth.” Bach explains: “Young adults in particular aren’t hopping on this escalator, and it’s a costly mistake…If millennials don’t buy a home, their chances […]

Is Your First Home Now Within Your Grasp? [INFOGRAPHIC]

Posted Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Millennials, Move-Up Buyers

Some Highlights: According to the US Census Bureau, “millennials” are defined as 18-36-year-olds. According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 32. More and more “old millennials” (25-36) are realizing that homeownership is within their grasp now! Content previously posted on Keeping Current Matters

Americans’ Powerful Belief in Homeownership as an Investment

Posted Posted in Baby Boomers, Demographics, First Time Home Buyers, For Buyers, For Sellers, Generation X, Housing Market Updates, Millennials, Move-Up Buyers

The Federal Reserve Bank (The Fed) recently released their 2019  Survey of Consumer Expectations Housing Survey. The survey reported that 65% of Americans believe homeownership is a good financial investment. Since 2014, the percentage has increased by over nine percent.The Fed’s survey also showed that when the results are broken down by age, education, income, […]

Millennials Are Increasing the Demand for Condominiums

Posted Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Millennials, Move-Up Buyers, Rent vs. Buy

When deciding to buy a home, people are presented with many different options. The type of home you buy depends on your needs, budget, and in many cases, the desired maintenance level. For many millennials, their choice has been buying a condominium! According to CoreLogic, “Last year about 43% of all condo home-purchase mortgage applications […]

Americans Rank Real Estate Best Investment for 6 Years Running! [INFOGRAPHIC]

Posted Posted in Baby Boomers, Demographics, First Time Home Buyers, For Buyers, For Sellers, Generation X, Housing Market Updates, Infographics, Millennials, Move-Up Buyers

Some Highlights: Real estate has outranked stocks/mutual funds, gold, savings accounts/CDs, and bonds as the best long-term investment among Americans for the last 6 years. Stock owners are more positive about real estate than stocks as an investment. Of the 4 listed, real estate is the only investment you can also live in! Content previously […]

Young First-Time Buyers Are Saving for Their Dream Homes

Posted Posted in Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Millennials, Move-Up Buyers, Rent vs. Buy

Young buyers (Millennials & Gen Z) have waited longer than previous generations to enter the housing market for their first home. However, this hasn’t stopped them from dreaming about the home they will eventually buy. Many spend hours searching listings and building Pinterest boards of their favorite home features. According to a survey from Open […]

Multigenerational Homes Are on the Rise

Posted Posted in Baby Boomers, Demographics, First Time Home Buyers, For Buyers, For Sellers, Generation X, Housing Market Updates, Millennials, Move-Up Buyers, Senior Market

As loved ones start to get older, we start to wonder: how long will they be able to live alone? Will they need someone there to help them with daily life? There’s a reason to ask those questions now more than ever, as the average age in the U.S. is 78 years old!  As a […]

What Would Make You Sell Your House?

Posted Posted in Baby Boomers, Demographics, First Time Home Buyers, For Buyers, For Sellers, Generation X, Housing Market Updates, Millennials, Move-Up Buyers, Senior Market

There are many reasons why a homeowner decides to sell their house and move. The latest Generational Trends Report from the National Association of Realtors asked recent home sellers to share their reason for moving. The younger the respondents, the more likely their top response centered around needing a larger home (ages 29 to 53). […]

New Study Reveals One Surprising Reason for the Inventory Shortage

Posted Posted in Baby Boomers, Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Millennials, Move-Up Buyers, Senior Market

There has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim millennials don’t want to own a home, blaming them for the dip in homeownership rate. While […]