Millennial Set To Drive Change In Real Estate Market

Dated: 08/21/2016

Views: 1109

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Lookout Alaska real estate! The Millennials are coming in HOT!

In the wake of the recession, it seemed no one under the age of 30 were buying homes. Instead, they were opting for renting, leasing or (gulp) living in their parent's basement! However, in June of this year, research reports from UBS Financial Services predicted "the renting generation" (made up of mostly Millennials) trend would continue to fall, and guess what? They were RIGHT!

In recent months, the Millennial generation has made up 32% of home buyers and 68% of first-time buyers, significantly more than baby boomers.

Millennials are making more money than their parents did and are taking advantage of stable mortgage rates that rise very little from year to year. "Fixed monthly payments and the long-term financial stability home ownership can provide attracts many young adults." states Lawrence Yun, chief economist for the National Association of Realtors®

If you find yourself falling in the category of wanting to find a new home, get started with us! We can make sure you're ready for your house hunt and that your loan options are secure. We're driven to help you find exactly what you are looking for and setting you up for a solid financial future!

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