The Next Generation Of Homebuyers Is Here…Are You Reaching Them?
Move over Baby Boomers, Gen Y has passed you as the largest share of the homebuying population according to the National Association of REALTORS®. Topping out at age 35, this group known as Millennials grew up online, are tech-savvy and don’t remember a time when they weren’t on a smart phone.
Most of these twenty and thirty somethings, nearly 70 percent, are purchasing their first homes and doing so because they want to own their own places. They understand the value of homeownership and more than 80 percent believe it’s a solid financial investment. That doesn’t mean they are looking to make a quick profit, though. Most expect to stay in their home for 10 years. So if you miss out on an opportunity to sell a home today, it might be awhile before you get another chance—unless, of course, a life change occurs that could prompt them to move. Read more