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

35 matches found

$285,000
11134 E YUCCA Street, Scottsdale, AZ 85259
View Photos (23)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1088
Year Built: 1985
Subdivision: VILLA DE CHOLLA AMD LOT 1-114 TR A-I
Description: Scottsdale Townhouse on a fantastic corner lot, with spacious outdoor livin...
Last Updated: September - 20 - 2019
IDX
$274,900
19777 N 76TH Street, 1111, Scottsdale, AZ 85255
View Photos (24)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2.5
Square Footage: 1273
Year Built: 2000
Subdivision: VENU AT GRAYHAWK CONDOMINIUM
Description: Tenants moved owner and owner says sell! Townhouse design features no neig...
Last Updated: September - 20 - 2019
IDX
$209,900
19777 N 76TH Street, 2168, Scottsdale, AZ 85255
View Photos (42)Virtual Tours (1)
Open House (09/22/2019 - 11:00 am)
Property Type: Residential
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 1012
Year Built: 2000
Subdivision: VENU AT GRAYHAWK CONDOMINIUM
Description: ~Resort Style Living!~ Enjoy world class amenities and LOVE where you live!...
Last Updated: September - 19 - 2019
IDX
$192,500
5122 E SHEA Boulevard, 2032, Scottsdale, AZ 85254
View Photos (46)
Property Type: Residential
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 739
Year Built: 1985
Subdivision: MILANO TERRACE PRIVATE RESIDENCES CONDOMINIUM
Description: Perfect location! Gated Scottsdale condo with garage, backs to the Stone Cr...
Last Updated: September - 19 - 2019
IDX
$245,000
9555 E RAINTREE Drive, 1050, Scottsdale, AZ 85260
View Photos (8)
Open House (09/22/2019 - 1:00 pm)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1.5
Square Footage: 1111
Year Built: 2000
Subdivision: LADERA VISTA CONDOMINIUM PHASE 2 EXHIBIT B
Description: PRIME LOCATION! Stunning condo located in gated community in sought after N...
Last Updated: September - 19 - 2019
IDX
$194,900
Property Type: Residential
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 930
Year Built: 1979
Subdivision: SCOTTSDALE SHADOWS
Description: Fully Remodeled Unit with Gorgeous MTN Views. Spacious 930 Sq. Ft., End COR...
Last Updated: September - 19 - 2019
IDX
$292,000
10055 N 142ND Street, 1060, Scottsdale, AZ 85259
View Photos (4)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1231
Year Built: 2006
Subdivision: VILLAS VERONA CONDOMINIUMS REPLAT
Description: Beautifully designed 2 bedroom first floor only condo. Located in the exclu...
Last Updated: September - 19 - 2019
IDX
$259,000
7830 E CAMELBACK Road, 211, Scottsdale, AZ 85251
View Photos (25)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1200
Year Built: 1974
Subdivision: SCOTTSDALE SHADOWS
Description: Enjoy the Scottsdale Shadows LIFE STYLE with an abundance of amenities incl...
Last Updated: September - 18 - 2019
IDX
$189,900
835 N GRANITE REEF Road, 34, Scottsdale, AZ 85257
View Photos (15)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 855
Year Built: 1985
Subdivision: SCOTTSDALE HACIENDAS CONDOMINIUMS UT 1-180
Description: Fantastic Poolside Furnished Turnkey 1st Floor 2bdrm- 2bath with 1 Car Gara...
Last Updated: September - 18 - 2019
IDX
$239,900
5640 E BELL Road, 1104, Scottsdale, AZ 85254
View Photos (11)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1104
Year Built: 1986
Subdivision: LAS HADAS VILLAS AMD UT 1-7 BLDG A-H J-N P,Q
Description: Beautiful 2 bedroom/2 bath townhome with extra loft office space! Includes ...
Last Updated: September - 18 - 2019
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