Millennials are now major players in the home buying arena, according to the recent Home Buyer and Generational Trends report released by the National Association of Realtors:
5 Things to Know: Millennials and Home Buying
1. Millennials made up 35% of buyers in 2015. This is up from 32% in 2014, and is the 3rd year consecutively Millennial buyers have composed the largest group of recent buyers.
2. In 2015, the sheer numbers of Millennials purchasing inside an urban or central city area decreased to 17% from 21% in 2014. Suburbia-phobe? Perhaps not.
3. They have help getting their foot in the door. Twenty-three percent of Millennial buyers used a financial gift for (or toward) their down payment.
4. An online search was the first step for 56% of Millennial buyers, whether they were looking for properties or searching for information regarding the home purchasing process.
5. Almost 90% worked with a Realtor to purchase their house.
Are you a Millennial trying to find your next home? Work with agents like Nick & Cindy Davis who are prepared for the changing marketplace. we have a team of agents ready to assist you. And two are millennials too. You can always reach us at 813-300-7116 or simply click here and we will be in touch and get started finding your new home.