#Fastfacts about Millennial Home Buyers
A recent study by realtor.com found that in 2017 nearly 52% of buyers will be looking to buy a home for the first time. A large portion of that percentage, in fact 42%*, will be made up by Millennials (ages 18 – 35) and growing. Millennials are starting to reach that critical home buying age and are actively searching for new homes. Many millennials are striving to fulfill the American dream. Similar to past generations, many feel that owning a home is a key part of fulfilling that dream.
Where are millennials home searching? One would think that living in the city would be the top choice location, however, it turns out that many are pursuing homes in the suburbs. A staggering 47%* of millennials live in the suburbs compared to just 33% who live in the city. Millennials are looking for larger homes with big yards plus the suburbs offer a safe neighborhood that they desire.
Despite the fact that millennials have grown up in a world surrounded by technology they still value human interaction. Most millennials prefer meeting with real estate agents in person compared to contacting them via email or phone. In addition, if they have a good experience with an agent, over 55%* of millennials are likely to recommend them to a friend and 26%* are likely to write an online review.
Over all, it is important to meet the needs of millennials as they start to enter the housing market.If you are a first-time buyer talk to a GreenTree Properties agent about finding that perfect home. We can help alleviate the stress and make your first home purchase a smooth process. *source: Zillow.com