We are seeing unprecedented amounts of rain in our area which has lead to flooding. This has effected many people/homeowners and forecasts for the future show potential for this to continue.
Austin Millennials Topping Sales While Lacking Housing
Dated: 03/23/2018
Views: 107
Millennials topped home purchases for the fifth year in a row according to an article by the National Association of Realtors: “Millennials Lead All Homebuyers, Even as Some Can’t Escape Their Parents.” They accounted for 36% of home purchases. Despite the fact they are the largest portion of home purchasers, Millennials are actually underperforming. “Inventory constraints and higher housing costs” are the cause. Data shows that the “typical Millennial” had more income than in 2017 but tended to purchase the same size home, as they would have in 2017, at a significantly higher price. Student debt was also higher than the year before. This housing issue is reflected in buyers trends. There are growing numbers of Boomers and Generation X buyers purchasing multigenerational homes to house their adult children. Numbers housing their parents has also grown.
Housing is increasingly expensive, and even though Millennials account for a large portion of home purchases they are in fact not performing as well as they should be.
If you know someone who is having a tough time finding the right home, contact me. Let’s explore your options.
Keeping you informed,
Donna L Bovee
Team Price Real Estate
Price Commercial Real Estate
(512) 497-3643
Latest Blog Posts
October Fall Festivals are in Full Swing So many great festivals are going on in and around the greater Austin Metroplex. There are plenty of fun things to do now that the weather is.
Saving for a down payment is often the biggest hurdle for a first-time home buyer as median incomes, rents, and home prices all vary depending on where you live.There is a common misconception
The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information from the Austin Board of REALTORS®. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided "AS IS" and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.
IDX
