Category: Real Estate Trends Blog
  • Archives:  
Author Photo
Author: Bob Longworth
Aug 14, 2018 at 10:38am

The Wave of Millennial Homebuyers Continues to Swell

Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as a part of attaining their American Dream.

Comparatively speaking, millennials have taken longer to obtain traditional milestones (like getting married, having kids and buying a home) than generations before them, but that does not mean that they do not aspire to still achieve those things.

For older millennials (aged 25-34) who have established themselves in their career and are starting to build their families, homeownership is the next logical choice.

According to the Urban Institute’s State of Millennial Housing, the probability of a millennial becoming a homeowner increases by 17.9% if they are married, and by an additional 6.2% if they have children.

Last year, according to the US Census Bureau, the average age at first marriage was 30 for men and 27 for women, while the National Association of Realtors (NAR) reports that the average first-time homebuyer was 32 years old.

With most of this generation having yet to age into the ‘Responsibility Zone’ (the time in their lives when their responsibilities start to dictate their behaviors), there will be a steady wave of buyers for years to come!

Those who are currently out in the market searching for a home are being met with a strong, highly competitive seller’s market. NAR’s Chief Economist Lawrence Yun recently commented,

“Realtors® throughout the country continue to stress that there’s considerable pent-up demand for buying a home among the millennial households in their market. 

Unfortunately, they’re just not making meaningful ground, and continue to be held back by too few choices in their price range, and thereby missing out on homeownership and wealth gains.”

 

Bottom Line:

If you are currently renting and thinking about jumping into the real estate market this year, let’s get together to help you navigate our market successfully. Please call Bob Longworth at 602-692-3293 for honest realty services!

 

Scottsdale Homes For First Time Buyers

59 matches found

$274,900
10080 E MOUNTAINVIEW LAKE Drive, 227, Scottsdale, AZ 85258
View Photos (34)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1152
Year Built: 1992
Subdivision: SCOTTSDALE BAY CLUB PHASE 2 & 3
Description: Poolside unit in the beautiful Scottsdale Bay Club! This unit has new polis...
Last Updated: November - 20 - 2018
$269,900
19777 N 76TH Street, 2257, Scottsdale, AZ 85255
View Photos (29)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1386
Year Built: 2000
Subdivision: VENU AT GRAYHAWK CONDOMINIUM
Description: The VENU, a highly desirable neighborhood within the gated Grayhawk Communi...
Last Updated: November - 19 - 2018
$264,900
14000 N 94TH Street, 2190, Scottsdale, AZ 85260
View Photos (27)Virtual Tours (1)
Open House (11/21/2018 - 2:00 pm)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1299
Year Built: 2002
Subdivision: BELLA VISTA
Description: Welcome home to this perfectly remodeled 2 bedroom, 2 bathroom residence in...
Last Updated: November - 19 - 2018
$209,900
1211 N MILLER Road, 213, Scottsdale, AZ 85257
View Photos (22)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1.75
Square Footage: 1036
Year Built: 1984
Subdivision: PARKVIEW VILLAS OF SCOTTSDALE
Description: Move-in ready 2-bedroom, 2-bath condo with 1 car attached garage. Unit feat...
Last Updated: November - 19 - 2018
$254,900
8700 E MOUNTAIN VIEW Road, 1039, Scottsdale, AZ 85258
View Photos (24)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2.5
Square Footage: 1374
Year Built: 1985
Subdivision: SUN CANYON AMD
Description: PRICED BELOW MARKET VALUE! Beautiful condo in a PRIME North Scottsdale loca...
Last Updated: November - 19 - 2018
$298,000
19550 N GRAYHAWK Drive, 2016, Scottsdale, AZ 85255
View Photos (30)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1323
Year Built: 2001
Subdivision: CACHET AT GRAYHAWK
Description: PREMIERE LOCATION IN GUARD GATED GRAYHAWK situated just steps from resort s...
Last Updated: November - 18 - 2018
$259,000
19777 N 76TH Street, 1170, Scottsdale, AZ 85255
View Photos (35)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2.5
Square Footage: 1273
Year Built: 2000
Subdivision: Venu at Grayhawk
Description: This is a wonderful and RARE ground level entry unit with great room and fi...
Last Updated: November - 17 - 2018
$239,900
5122 E SHEA Boulevard, 2137, Scottsdale, AZ 85254
View Photos (35)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1086
Year Built: 1985
Subdivision: MILANO TERRACE PRIVATE RESIDENCES CONDOMINIUM
Description: See your new home today! In the Milano Terrace Community, located not far f...
Last Updated: November - 17 - 2018
$249,000
20801 N 90TH Place, 165, Scottsdale, AZ 85255
View Photos (18)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1298
Year Built: 2000
Subdivision: VILLAGE AT MARKET STREET CONDOMINIUM
Description: Ground floor condo with detached GARAGE (#34). Check out the Brand New sta...
Last Updated: November - 17 - 2018
$297,800
Front of the home
View Photos (22)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1283
Year Built: 2004
Subdivision: Tesoro at Grayhawk Condom
Description: Currently being professionally painted throughout and new carpet coming nex...
Last Updated: November - 17 - 2018

1 2 3 4 5 6
Copyright Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.