The real estate market changes constantly. We have seen different seasons and different trends come and go. These bring about changes in the market trends. A recent study highlights how the largest group of recent buyers are millennials, which is about 35 percent of all buyers. Millennial buyers and sellers are changing the industry quite a bit and Jonathan Deesing on the Housecall blog does a great job in telling us how:
Millennials have grown to represent 32 percent of homebuyers, which is the largest portion of the home buying market. According to millennial Austin Hale, product manager for real estate investment software company Realeflow, “Millennials present an entirely new dynamic in the real estate market. [They’re] much more likely to rent, to congregate in urban areas, and to be cautious when taking on debt.” The purchasing and lifestyle habits of millennials shape the economy and affect everything from the energy market to how TV is made. Real estate professionals need to understand the effect millennials have on the real estate market, so here are four things to know about millennial homebuyers.
Read the entire article here. The market changes constantly and you need to be on top of it to be successful and knowing your audience and what they want is the first step.
