Given the large number of buyers in this category we are going to devote the month of April to millennials in #tuesdaytrivia. The millennial generation was once again the largest group of home buyers in 2014. Do you know what percentage of the market they make up and their primary reason for buying?
According to a recent NAR study, the millennial generation made up 32% percent of all buyers in 2014! This number is consistent with the 31% of all sales they purchased in 2013. Even despite the economic and financial challenges facing millennials - underemployment, rising rent, and student loan repayment - they are still drawn to the stability of a mortgage. The top reason millennials cited for their home purchase? The desire to own a home of their own.
These buyers are soon to be our next important group of sellers so you need a Realtor that understands the needs of this age group on either end of the transaction. Do you know one?