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Millennials are buying more homes than you think

February 1, 2017 by Danielle Edwards

Millennials are buying more homes than you think

Millennial homebuyers make up 50% of housing market

By Danielle Edwards- February 2017


 

How many millennials are buying homes?

Recent research shows that 50% of homebuyers are millennials. Maybe this is due to the fact that Millennials associate owning a home with the “American Dream” more than any other generation. But even though a huge amount of the people buying homes are at an average age of about 33, millennials are delaying buying homes more so than they were back in the late 20th century.

Millennial homebuyer

 

Buying vs. renting as a millennial

According to Zillow, Americans are renting for an average of 6 years before purchasing a home of their own, where in the 1970’s they only rented for a little over 2 years. This could be due to the fact that millennials are moving to areas in which the housing market is more expensive, and more highly sought after– like coasts, cities, and booming job markets.

Although delaying the purchase of a home may seem like a smart move, many millennials who choose to take the plunge and buy a home are saving big. A 2016 Rental Affordability Analysis shows that in 58% of US housing markets, it’s much more affordable to buy a home than to rent. Rental prices in the US are increasing much faster than wages in over half of the country.

Southeast may be the best place to buy

Millennials that are considering buying a home in the southeastern part of the country are in luck. States such as North and South Carolina all the way down to Florida are home to some of the most affordable housing in the country.

 

REMAX agent Danielle Edwards

704-604-2999

drivendanielle@gmail.com

www.soldondanielle.com

 

 

 

Contact Danielle Edwards with REMAX Executive Realty for all of your Real Estate needs!

Filed Under: Featured Content, Uncategorized Tagged With: affordable homes charlotte, ballantyne realtor, buyers agent, Charlotte, Charlotte NC, first time homebuyer, How to buy a home, how to buy a home in charlotte, How to buy a house, millennial, millennial homebuyer, millennial housing market, millennial market, millennials, moving to charlotte, new home, realtor charlotte, relocation, remax, remax agent, remax agent charlotte, remax charlotte, remax executive, remax executives, remax realtor, renovations, renting vs buying, renting vs owning, southpark realtor

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Danielle Edwards
RE/MAX Executive
12104 Copper Way Ste. 100
Charlotte, NC 28277
704-276-6882
info@soldondanielle.com

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