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

49 matches found

$254,900
7830 E CAMELBACK Road E, 211, Scottsdale, AZ 85251
View Photos (21)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1200
Year Built: 1974
Subdivision: SCOTTSDALE SHADOWS 3 D/P 9818-47 & 9818-65/NO PLAT
Description: This completely remodeled upscale 2br, 2bth, 1200 Sqft luxury unit has all ...
Last Updated: July - 15 - 2019
$225,000
7009 E ACOMA Drive, 2034, Scottsdale, AZ 85254
View Photos (12)
Property Type: Residential
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 772
Year Built: 1994
Subdivision: PLAZA RESIDENCES A CONDOMINIUM
Description: Leased through 10/31/2019 at $1150/month. Close escrow before or after Tena...
Last Updated: July - 15 - 2019
$299,000
14000 N 94TH Street, 3087, Scottsdale, AZ 85260
View Photos (50)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1279
Year Built: 2003
Subdivision: BELLA VISTA A BEAUTIFUL VIEW CONDOMINIUM 2ND AMD
Description: Special 3rd level penthouse unit, original owner. Great room w/built-ins & ...
Last Updated: July - 15 - 2019
$299,900
5335 E SHEA Boulevard, 1038, Scottsdale, AZ 85254
View Photos (35)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 2
Square Footage: 1257
Year Built: 1993
Subdivision: BELLA TERRA CONDOMINIUMS
Description: Pristine Three Bedroom, Two Bath with carport plus Garage at Bella Terra! L...
Last Updated: July - 14 - 2019
$265,000
Entry community pool
View Photos (15)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1401
Year Built: 2005
Subdivision: SCOTTSDALE CASITAS CONDOMINIUM
Description: Upstairs living all on one level..2 bedrooms plus den that over looiks sta...
Last Updated: July - 14 - 2019
$279,000
19777 N 76th Street, 3155, Scottsdale, AZ 85255
View Photos (17)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 2
Square Footage: 1438
Year Built: 2000
Subdivision: Venu at Grayhawk
Description: Once in a lifetime opportunity. Seller is moving back to New York and is m...
Last Updated: July - 14 - 2019
$224,000
7910 E CAMELBACK Road, 309, Scottsdale, AZ 85251
View Photos (16)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1.75
Square Footage: 1200
Year Built: 1974
Subdivision: SCOTTSDALE SHADOWS 2 D/P 9524-73/NO PLAT
Description: Turnkey and fully furnished condo! Beautiful corner condo unit with excelle...
Last Updated: July - 14 - 2019
$189,900
7960 E CAMELBACK Road, 203, Scottsdale, AZ 85251
View Photos (22)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1
Square Footage: 930
Year Built: 1974
Subdivision: SCOTTSDALE SHADOWS 4 PARKING SPACES 1-146
Description: LOCATION,LOCATION,LOCATION! This 2 bedroom 1 bath townhouse is located righ...
Last Updated: July - 13 - 2019
$240,000
9550 E THUNDERBIRD Road, 159, Scottsdale, AZ 85260
View Photos (16)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1172
Year Built: 1996
Subdivision: MIRA VISTA CONDOMINIUMS
Description: Fun floor plan with one bedroom on each side of the unit offering privacy p...
Last Updated: July - 13 - 2019
$211,000
7009 E ACOMA Drive, 1073, Scottsdale, AZ 85254
View Photos (31)
Property Type: Residential
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 691
Year Built: 1994
Subdivision: PLAZA RESIDENCES A CONDOMINIUM
Description: Welcome home to your gated resort style home in the center of the Scottsdal...
Last Updated: July - 13 - 2019

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