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

58 matches found

$245,000
11515 N 91ST Street, 233, Scottsdale, AZ 85260
View Photos (13)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1078
Year Built: 1987
Subdivision: MANZANITA VILLAS UNIT 1-130
Description: This Unit has been completely repainted and the Master Bath has been refini...
Last Updated: September - 24 - 2018
$296,000
10019 E MOUNTAIN VIEW Road, 1092, Scottsdale, AZ 85258
View Photos (32)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1162
Year Built: 1984
Subdivision: The Fountains
Description: Tucked away in the Fountains, this 2 bed, 2 bath ground floor, end-unit con...
Last Updated: September - 24 - 2018
$170,000
Welcome Home!
View Photos (43)
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: Welcome to Scottsdale Shadows! FABULOUS resort community in the heart of Sc...
Last Updated: September - 24 - 2018
$229,900
Exterior Of Unit
View Photos (17)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1078
Year Built: 1987
Subdivision: MANZANITA VILLAS
Description: Big Price Reduction! Condo living at its best! Fabulous location close to t...
Last Updated: September - 24 - 2018
$249,999
525 N MILLER Road, 235, Scottsdale, AZ 85257
View Photos (15)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 2
Square Footage: 1534
Year Built: 2005
Subdivision: SCOTTSDALE CASITAS CONDOMINIUM
Description: Must see this clean, updated, light and bright unit located in sought after...
Last Updated: September - 24 - 2018
$263,000
2992 N MILLER Road, 206A, Scottsdale, AZ 85251
View Photos (20)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1088
Year Built: 1997
Subdivision: Villas at Bellagio
Description: Stunningly renovated condo is located in the Luxury-Resort Style Gated Comm...
Last Updated: September - 24 - 2018
$289,000
7700 E GAINEY RANCH Road, 102, Scottsdale, AZ 85258
View Photos (20)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1104
Year Built: 1987
Subdivision: SUNSET COVE AT GAINEY RANCH TRACTS 3 & 4
Description: Enjoy the resort lifestyle of the extraordinary Gainey Ranch in this cozy 2...
Last Updated: September - 23 - 2018
$220,000
9550 E THUNDERBIRD Road, 121, Scottsdale, AZ 85260
View Photos (30)
Property Type: Residential
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 843
Year Built: 1996
Subdivision: MIRA VISTA CONDOMINIUMS
Description: An amazing 1st floor condo with beautiful high-end finishes and detached on...
Last Updated: September - 23 - 2018
$299,900
11500 E COCHISE Drive, 2059, Scottsdale, AZ 85259
View Photos (45)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1462
Year Built: 2000
Subdivision: MIRAGE CROSSING RESORT CASITAS CONDOMINIUM
Description: Whether coming from cold country or seeking new Valley digs, this luxurious...
Last Updated: September - 22 - 2018
$265,000
5335 E Shea Boulevard, 2056, Scottsdale, AZ 85254
View Photos (23)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1076
Year Built: 1993
Subdivision: Bella Terra
Description: Furnished 2 bed, 2 bath upper level condo with beautiful sunset and mountai...
Last Updated: September - 22 - 2018

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