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

34 matches found

$199,900
7950 E CAMELBACK Road, 203, Scottsdale, AZ 85251
View Photos (36)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1
Square Footage: 930
Year Built: 1979
Subdivision: SCOTTSDALE SHADOWS 5 PARKING SPACE 1-160
Description: REDUCED TO SELL! LOCATION, LOCATION LOCATION; BEAUTIFUL VIEWS!!! This 2 ...
Last Updated: November - 18 - 2019
IDX
$292,500
11515 N 91ST Street, 234, Scottsdale, AZ 85260
View Photos (24)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1
Square Footage: 976
Year Built: 1987
Subdivision: MANZANITA VILLAS UNIT 1-130
Description: Available to show starting 11/15/19. NEWLY UPDATED!!! Bright & clean! Not m...
Last Updated: November - 18 - 2019
IDX
$175,000
7920 E CAMELBACK Road, 107, Scottsdale, AZ 85251
View Photos (30)
Property Type: Residential
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 870
Year Built: 1974
Subdivision: SCOTTSDALE SHADOWS 2 D/P 9524-73/NO PLAT
Description: CHARMING & SPACIOUS Condo with $20,000+ in Remodeling! DELIGHTFUL PATIO Ne...
Last Updated: November - 18 - 2019
IDX
$259,000
7940 E CAMELBACK Road, 404, Scottsdale, AZ 85251
View Photos (52)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1200
Year Built: 1974
Subdivision: SCOTTSDALE SHADOWS 4
Description: Beautifully remodeled condo in a great community. Secure living with all th...
Last Updated: November - 17 - 2019
IDX
$300,000
10017 E MOUNTAIN VIEW Road, 2077, Scottsdale, AZ 85258
View Photos (17)
Open House (11/18/2019 - 8:00 am)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1446
Year Built: 1984
Subdivision: FOUNTAINS UNIT 1-160
Description: This Scottsdale one-story is in a great central location in the Scottsdale ...
Last Updated: November - 17 - 2019
IDX
$299,500
Enjoy this large one bedroom luxury condo with a fantastic location!!
View Photos (25)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 1093
Year Built: 2008
Subdivision: CORRIENTE CONDOMINIUMS
Description: Luxury one bedroom condominium, originally the builders model, with beautif...
Last Updated: November - 17 - 2019
IDX
$234,000
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: Spacious floorplan with room for storage; 1-car, detached garage; wood-burn...
Last Updated: November - 17 - 2019
IDX
$191,000
7940 E CAMELBACK Road, 409, Scottsdale, AZ 85251
View Photos (46)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1
Square Footage: 930
Year Built: 1974
Subdivision: SCOTTSDALE SHADOWS 4
Description: Luxury Condominium in the Heart of Old Town Scottsdale! This home is a must...
Last Updated: November - 16 - 2019
IDX
$222,500
20801 N 90TH Place, 233, Scottsdale, AZ 85255
View Photos (20)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 909
Year Built: 2000
Subdivision: VILLAGE AT MARKET STREET CONDOMINIUM
Description: Incredible 2nd floor studio condo available in coveted DC Ranch neighborhoo...
Last Updated: November - 16 - 2019
IDX
$295,000
7009 E ACOMA Drive, 1045, Scottsdale, AZ 85254
View Photos (29)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 972
Year Built: 1994
Subdivision: PLAZA RESIDENCES A CONDOMINIUM
Description: Finally an opportunity to purchase a ground floor end unit in The Plaza Re...
Last Updated: November - 16 - 2019
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