The “Millennial” Home Buyer (INFOGRAPHIC)

“Millennial”

adjective  | mil·len·ni·al \mə-ˈle-nē-əl\

My generally accepted definition of Millennial:

1. A generation of men and women between the ages of 18-34  that value independent thinking, counter-culture, progressive politics, creativity, intelligence, Netflix  and a trendy  “high-tech, low touch lifestyle.”

According to a recent study released by the National Association of Realtors, the largest group of home buyers in 2014 was this ambiguous group, millennial home buyers composed 32% of all buyers. This highly evaluated/scrutinized  group is often referenced in the housing industry, but who are they?

  • How long does a millennial plan to stay in their current home?
  • Does a millennial prefer a condo, single-family residence or town home?
  • Do millennials prefer a newly built home or a resale?

Endeavor America Loan Services, a mortgage company based in Walnut Creek, California, surveyed loan application data collected from more than 5,400 Millennials in 2014 to gain a true picture of this increasingly important home buyer.

The average Millennial is 28 years old with a $76,900 household income.

Click the infographics for the rest of the data:

1/3 Millennial Infographic

2/3 Millennial Infographic

3/3 Millennial Infographic

Source: Endeavor America

 

By | 2017-09-20T21:27:05+00:00 July 20, 2015|BuildGREENville|1 Comment

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