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

20 matches found

$199,000
Virtually staged living space with room for dining set.
View Photos (48)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1
Square Footage: 930
Year Built: 1974
Subdivision: SCOTTSDALE SHADOWS
Description: Charming -this END UNIT has 2 bedrooms and 1 full bath. Freshly painted wit...
Last Updated: August - 03 - 2020
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$275,000
19777 N 76TH Street, 2247, Scottsdale, AZ 85255
View Photos (31)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1149
Year Built: 2000
Subdivision: Venu at Grayhawk
Description: Fabulous 2 bedroom plus desk area, 2 bath townhome located in the highly de...
Last Updated: August - 01 - 2020
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$285,000
7920 E PEPPER TREE Lane, Scottsdale, AZ 85250
View Photos (47)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1052
Year Built: 1985
Subdivision: CAMELVIEW GREENS REPLAT LOT 1-140 TR A-X
Description: HUD HOME! SAVE THOUSANDS! Prime Scottsdale Location in the private, gated c...
Last Updated: August - 01 - 2020
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$225,000
7009 E ACOMA Drive, 2034, Scottsdale, AZ 85254
View Photos (15)
Property Type: Residential
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 772
Year Built: 1994
Subdivision: PLAZA RESIDENCES A CONDOMINIUM
Description: TENANT-OCCUPIED UNTIL 09/30. Spacious floorplan with room for storage; 1-ca...
Last Updated: July - 31 - 2020
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$299,999
Great Modern Look!
View Photos (37)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1.75
Square Footage: 1200
Year Built: 1984
Subdivision: SCOTTSDALE SHADOWS
Description: Outstanding Condo with a Modern Flair! Your new home has a''mod'' entry way...
Last Updated: July - 31 - 2020
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$279,800
10115 E Mountain View Road, 2017, Scottsdale, AZ 85258
View Photos (14)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1076
Year Built: 1984
Subdivision: Venetian II
Description: GREAT LOCATION! Secure Gated Updated Condo in Beautiful Scottsdale Ranch. V...
Last Updated: July - 30 - 2020
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$269,999
7930 E CAMELBACK Road, 511, Scottsdale, AZ 85251
View Photos (19)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1.75
Square Footage: 1200
Year Built: 1974
Subdivision: SCOTTSDALE SHADOWS 3
Description: WOW! THIS IS THE ONE YOU'VE BEEN WAITING FOR. THE VIEW OF CAMELBACK MOUNTAI...
Last Updated: July - 30 - 2020
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$285,000
7830 E CAMELBACK Road, 211, Scottsdale, AZ 85251
View Photos (38)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1200
Year Built: 1974
Subdivision: SCOTTSDALE SHADOWS
Description: Enjoy the Scottsdale Shadows lifestyle. This home has been beautifully reno...
Last Updated: July - 30 - 2020
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$188,000
5335 E SHEA Boulevard, 2003, Scottsdale, AZ 85254
View Photos (11)
Property Type: Residential
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 743
Year Built: 1993
Subdivision: BELLA TERRA CONDOMINIUMS
Description: Gorgeous condo with spectacular views! GARAGE COMES WITH UNIT! Large living...
Last Updated: July - 29 - 2020
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$234,900
935 N GRANITE REEF Road, 103, Scottsdale, AZ 85257
View Photos (18)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2.5
Square Footage: 1145
Year Built: 1985
Subdivision: SCOTTSDALE HACIENDAS CONDOMINIUMS UT 1-180
Description: Beautifully maintained unit. Wonderful opportunity is South Scottsdale, cl...
Last Updated: July - 28 - 2020
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