What do Millennials Mean for Real Estate? Friday Facts!

The 80 million Millennials between the ages of 18 and 35 in the United States will have an impact on the housing market.

  • RIS Media had a Better Homes and Gardens Real Estate survey on Millennials
    • 77% want essential, purposeful homes equipped with technological capabilities as opposed to the conventional, grandiose homes preferred by their parents.
    • 56% say that technological capabilities are more important than curb appeal
    • 64% wouldn’t consider a home without these amenities.
  • The National Association of Realtors Realtor Mag contained an article:  “Should Boomers Worry about Millennials’ Housing Shift?”
    • Will Boomers have a difficult time selling their larger, suburban homes?
    • The Urban Land Institute’s Terwillinger Center for Housing shows:
      • 60% of Millennials prefer a mix of housing choices and want to be near shops, restaurants, offices and transit.
      • 75% value walkability
      • 63% plan to move in the next 5 years, and of that, 40% expect to move to multi-family housing.
      • The demographic faces serious student loan debt
      • There is speculation that this generation will operate in a similar way to the generation that went through the Great Depression.
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