August 23, 2017

Millennial Americans are moving to the suburbs

This article comes from http://www.crainscleveland.com/ and talks about the new large population of home buyers that are hitting the real estate market. They are called Millennials and they are coming to buy real estate.

“The generation of Americans aged about 18 to 34 have become the largest
group of home buyers, and almost half live in the suburbs, according to
Zillow Group data. As they shop for bigger homes to accommodate growing
families, they’re upsizing their vehicles to match. U.S. industry sales
of large SUVs have jumped 11% in the first half of the year, Ford Motor
Co. estimates, compared with increases of 9% for midsize and 4% for
small SUVs”

I have noticed that the empty nesters (No kids living at home) have been down sizing and young families (millennials) have started buying larger homes myself.

Sold a 3300+ square foot home to a young family that has three kids. Their big concern was location and school district. The lady moving out of the home was downsizing and moving near her kids.

This month have sold 4 homes that are larger homes to young growing families that need space. One unique situation was a family that needed a lower walk out basement so their parents could live in the home with them. The walk out gave both parties privacy and a place to have alone time.

“”As more people move out of their parents’ basement — and there’s still
quite a few living there — we expect to see continued healthy demand
for homes,” said Svenja Gudell, chief economist for Zillow, which found
millennials made up 42 percent of home buyers last year. “Millennials
delayed home ownership, just like they delayed getting married and
having kids, but now they’re making very similar decisions to their
parents.””

Today’s 25-30 year old kids are starting to move out and get their portfolio’s moving. Sold a home to a Millennial couple that had saved up a lot of money before they purchasing their home. It was a easy purchase once they found their perfect home.

Real Estate is changing and their are more buyers that need homes. This is a great time to downsize your home and get the right home for your needs. We have a great listing package that can save you money and we can help you find that perfect home.

With the Millennials and baby boomers changing their life course, means a lot of real estate. If your looking for a home or want to sale and downsize you home call me. I’m Brett this is all I do call
216-703-5740 Century 21 Premiere and 602-363-6551 EXP Realty and Playa Azul. Check out my new Book     Multi Million Dollar Producer






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