Millennial buyers; who are they?

Dated: October 15 2020

Views: 68

Millennials are also known and Generation Y, they precede Generation Z and following Generation X. Millennials were born between 1980 – 1994 they are the 72.1 million people between 24-39 years of age. In terms of the work force they are the nearly 75% that have been working remotely from home during the pandemic.

 

Millennials are resourceful, growing up the age of computers, unlike us baby boomers, thirty-seven percent of millennials research homes like everything lese online. Thirty-five percent are spending more time looking at the photos available in listing placed on the internet. Moreover, this generation researches online more than any other generation.

 

So, what does this mean? It means before they leave their home or contact a realtor they have seen a great deal of information or data on places they’re interested in. Which translates into a buyer that has pretty much decided to buy that property if what they saw online matches up to what they see when they visit the property. The data shows that millennials over the last five years have been the strongest buyer force in history surpassing the baby boomers.

 

The buyer profile for this generation is that they are not looking to move very far away, again unlike baby boomers who typically traveled one to three states away from their home state. Nearly half actually 49% of Millennials want to live within the city or area they currently reside in. The median price they are staying in is around the 350,000.00 range. For those who are selling this is good news because they are looking for the suburb dream, we know this because 33% of millennials have indicated they are wanting to grow a family which is their primary motivation in buying a home.

 

In closing as a realtor, we always hear the questions and claims; is it a good time to buy, the market could fall, what if... and the list goes on. Here is the truth! Real estate is and always has been the most solid investment a person can make. Buying a home is like starting a family there is never the perfect time for anyone to embark on that journey. The decision is a personal one, is the time right for YOU? Only you can decide that not a realtor, not a mortgage broker, not you parents or whoever else is your sphere of influence. Doing what is best stays with those who are responsible for those choices, always has been always will be; our job as a realtor is to be there when you need the advice and the support to make the best choice for you.

Rick & Angie Decker are realtors with Local Homes and Land Real Estate. When life  pushes you into a new chapter we're here to help you enter that chapter. We have years of experience helping others meet their goals and finding their forever home. Give us a call today at 843-499-6872 or email us at rnadeckerteam@gmail.com

Rick & Angie Decker, realtors

843-499-6872

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Decker Team

Rick and Angie Decker work together as The Decker Team and they specialize in both Commercial and Residential real estate.. Angie entered real estate part time in 2016 while also working as an Operati....

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