According, to the United States Census Bureau, the Millennial generation makes up the largest generation the country has experienced in its entire history. This generation was born between 1892 to 2000, and now is made up of 83.1 million people, representing more than one-quarter of the nation’s whole population. This massive number even surprisingly exceeds the 75.4 million baby boomers.
Millennials are seeing more of those in their age demographic purchasing homes, however, Millennials still seem to be daunted by the process. Purchasing your first house shouldn’t be stressful as all the stereotypes and myths make it out to be. Negative stereotypes about the housing market have actually prevented Millennials from considering home ownership or even renting.
More and more Millennials are rushing to the housing market each year, but experts have taken a look at the homeownership rate for Millennials and still questioned if they even want to own homes or know where to begin for that matter.
Millennial buyers, between the ages of 18-34, have comprised the largest percentage (roughly 50-60%) of first-time homebuyers in the past couple years. This percentage has increased from barely 50% in 2005. The National Association of Realtor’s claims this generation will continue to be a buying force in the housing market as more and more Millennials are settling down to grow their families.
This all being said, those working in real estate need to make the purchasing process easier for Millennials. This eGuide is here to provide Millennials with the information they need to make the absolute best homeowner decisions for themselves and their families.
Download the Millennial eGuide by using the link below!