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The Wave of Millennial Homebuyers Continues to Swell

 First Time Home Buyers, For Buyers, Millennials, Rent vs. Buy

Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as a part of attaining their American Dream.

Comparatively speaking, millennials have taken longer to obtain traditional milestones (like getting married, having kids and buying a home) than generations before them, but that does not mean that they do not aspire to still achieve those things.

For older Millennials (aged 25-34) who have established themselves in their career and are starting to build their families, homeownership is the next logical choice.

According to the Urban Institute’s State of Millennial Housing, the probability of a millennial becoming a homeowner increases by 17.9% if they are married, and an additional 6.2% if they have children.

Last year, according to the US Census Bureau, the average age at first marriage was 30 for men and 27 for women, while the National Association of Realtors (NAR) reports that the average first-time homebuyer was 32 years old.

With most of this generation having yet to age into the ‘Responsibility Zone’ (the time in their lives when their responsibilities start to dictate their behaviors), there will be a steady wave of buyers for years to come!

Those who are currently out in the market searching for a home are being met with a strong, highly competitive seller’s market. NAR’s Chief Economist Lawrence Yun recently commented,

“Realtors® throughout the country continue to stress that there’s considerable pent-up demand for buying a home among the millennial households in their market.  

Unfortunately, they’re just not making meaningful ground, and continue to be held back by too few choices in their price range, and thereby missing out on homeownership and wealth gains.”

Bottom Line

There are many options available to help first time home buyers. If you are currently renting and thinking about jumping into the real estate market this year, let’s get together to help you navigate our market.

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Fort Worth Investment Project 2 weeks in and on Schedule

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4 Bedroom home for Lease in Little Elm Available First of December call 214-315-9465 for more information

RE/MAX North Associates Bret Wilson Direct: (214) 315-9465 Mobile Phone: (214) 315-9465 Business Fax: (866) 977-4256 Website or Mobile: http://www.bretwilson.net/DFW12041969 E-mail: bret.wilson@remax.net

309 Port O Conner Drive Little Elm, TX 75068 MLS#: 12041969 Price: $1,400 Bedrooms: 4 Full Bathrooms: 2 Half Bathrooms: 0 Beautiful 1-story 4-2-2 with several updates! Hardwood floors! Dramatic dining room! Kitchen & Brkfst Bar open to Family Rm w Fireplace & window views out to patio & fenced backyard! Spacious Bed Rooms. Big walk-in closet and Garden tub in master. Updated paint, Updated carpet, updated tiled bathroom flooring! Great location! Pretty landscaping & curb appeal! Easy access to shopping, highways and local schools.

The information being provided is deemed reliable but not guaranteed. All information must be verified by the purchaser. Listing information courtesy of: RE/MAX NORTH ASSOCIATES ©2013 North Texas Real Estate Information Systems, Inc. All Rights Reserved. Certain information contained herein is derived from information which is the liscensed property of, and copyrighted by, North Texas Real Estate Information Systems, Inc.

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