July 6, 2023

By Isabel Guzman, Realtor®

Video Transcription

I have a trivia question for you. In today's housing market who is the latest demographic to emerge as the largest group of home buyers in the country. Hi, I'm Isabel Guzman ,broker associate and realtor with eXp Realty. If you haven't guessed the answer is... Millennials! Boy, is that word hard for me to say. This is a generation born between 1981 and 1996 otherwise known as Generation Y latest data shows that this demographic despite financial challenges such as mounting student loan debt and high housing costs are still eager to buy real estate. According to the National Association of Realtors Millennials accounted for the largest share of home buyers in the last few years and a recent survey done by Zillow found that 86 percent of millennial renters plan on purchasing a home within the next five years as they begin to evolve in their careers and start families buying real estate deems to be the perfect big step in their lives to create wealth and stability. Another factor is everything that happened in 2020 in 2020 the surge in remote work has allowed Millennials to expand their search outside of major cities creating an influx in home ownership in Suburban areas combining all of this with their increase in wages and creative financing options Generation Y is proving to be the new face of home ownership if you're thinking about purchasing a home or know someone who is feel free to contact me and my team anytime we're always happy to help I'm Isabel with the Colibri group bringing you home.