It’s hard to believe, but it’s true: millennials in our real estate demographic for home buying have already been putting their stamp in the market share, which is a good thing for the industry. We’re not going to see a real estate explosion quite yet, though, given the record low numbers of mortgage applications among millennials (and a consistent high growth for home renting) due to lack of job growth, student loan debt, and a later timeline for marriage and new families.
What you need to know, though, is what exactly they’ll be looking for in terms of a home…. Keep that in mind. Because of the inventory of available houses aren’t there; those millennials aching for a home to buy, well, won’t buy – which is bad for real estate business.
Here’s what millennials will want in a home (and you certainly won’t need any Gray’s Sports Almanac to figure this one out):
This is getting heavy, Doc….
Preparation. That’s what it’s all about. Whether it’s home staging or a real estate agent who can access all the available homes, RTO or not, with all the correct features millennials are going to want. Because when they buy, people sell. Home improvements, renovations, maybe even new construction – the new millennial generation may drive this focus in.
So let’s align with it. And make the real estate market ready for the future (and flying DeLoreans). Sign up for more information with the HOPE Program today!
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