Many factors contribute to the Millennial generation's confidence in purchasing a home, including the fact that more than any other generation, they are confident in their ability to use the internet to research and plan the entire purchase, from down payment programs to mortgage costs, to the types of neighborhoods that will suit them best. They enter into the home buying process with great awareness of what they want and what is on the market, and 90% of Millennials frequently use the internet to search for properties.
Does that mean Millennials don't use Real Estate agents? Absolutely not! Like the vast majority of home buyer's, Millennials still rely on the expertise and knowledge a professional real estate agent brings to the table, and more than any other generation they cite an agents honesty and trustworthiness as the most important factor in which agent they choose.
What are the generational trends in today's home-buying market? According to the study, Generational buyer's can be broken down as follows:
- Generation X (1965-1979) account for 31% of recent purchases
- Millennials (1980-2000) 28%
- Young Boomers (1955-194) 18%
- Old Boomers (1946-1954) 14%
- Silent Generation (1925-1945) 10%
The Foster Beckman Group would love to help you find your new home or sell your current home. We work closely with all of our home buyers and sellers to help you find the right home at the best price for the least amount of stress! Call us today at 702.686.2695.