Category: Real Estate Trends Blog
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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

70 matches found

$147,900
7940 E CAMELBACK Road, 307, Scottsdale, AZ 85251
View Photos (26)
Property Type: Residential
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 870
Year Built: 1974
Subdivision: SCOTTSDALE SHADOWS 4
Description: Fabulous 1 bed 1 bath unit on 3rd floor with VIEWS of the McDowells! New ti...
Last Updated: February - 21 - 2019
$286,000
Golf Course Views!
View Photos (35)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2.5
Square Footage: 1246
Year Built: 1985
Subdivision: MILANO TERRACE PRIVATE RESIDENCES CONDOMINIUM
Description: Exceptional ''lock and leave'' opportunity! Excellent location: close to Ki...
Last Updated: February - 21 - 2019
$285,000
Excellent location in the community with a direct view of pool from the balcony!
View Photos (27)
Open House (02/23/2019 - 11:00 am)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1268
Year Built: 1997
Subdivision: VILLAS AT BELLAGIO CONDOMINIUM
Description: This charming condo features a fabulous location, just minutes from all th...
Last Updated: February - 21 - 2019
$299,900
11054 E Yucca Street, Scottsdale, AZ 85259
View Photos (12)
Open House (02/24/2019 - 2:00 pm)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1393
Year Built: 1985
Subdivision: Villa de Cholla
Description: Priced to sell!! Minimum maintenance, lock and leave. Cozy 2 bd, 2 full ba...
Last Updated: February - 21 - 2019
$199,900
1211 N MILLER Road, 263, Scottsdale, AZ 85257
View Photos (31)
Open House (02/21/2019 - 1:00 pm)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1036
Year Built: 1984
Subdivision: PARKVIEW VILLAS OF SCOTTSDALE
Description: Cozy 2 bed, 2 bath condo with a loft upstairs! The living room is quaint; f...
Last Updated: February - 21 - 2019
$289,000
11260 N 92ND Street, 2027, Scottsdale, AZ 85260
View Photos (13)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1553
Year Built: 1994
Subdivision: SCOTTSDALE MISSION CONDOMINIUMS AMD
Description: Fabulous find in the heart of North Scottsdale! Close to shopping, entertai...
Last Updated: February - 21 - 2019
$274,900
10080 E Mountainview Lake Drive, 314, Scottsdale, AZ 85258
View Photos (32)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1152
Year Built: 1992
Subdivision: SCOTTSDALE BAY CLUB PHASE 2 & 3 AMD
Description: MOVE-IN READY split floor plan 2 BR / 2 BA condo in gated Scottsdale Bay Cl...
Last Updated: February - 21 - 2019
$230,000
10017 E MOUNTAIN VIEW Road, 2046, Scottsdale, AZ 85258
View Photos (27)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 968
Year Built: 1985
Subdivision: FOUNTAINS UNIT 1-160
Description: The sought after 'Fountains' complex at Scottsdale Ranch provides an ideal ...
Last Updated: February - 21 - 2019
$272,000
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: February - 21 - 2019
$292,500
14000 N 94TH Street, 1184, Scottsdale, AZ 85260
View Photos (51)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1296
Year Built: 2003
Subdivision: BELLA VISTA
Description: RARE, RARE, RARE! This beautiful end unit is located on the 1st floor and o...
Last Updated: February - 20 - 2019

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