Where were you in 1980? A person born after that year might be buying your home this year.
Significant parts of the generational cohort are aging into new stages of life: marriage, kids, and buying homes. By the end of the year, they’ll account for 43% of all mortgages, according to a report by Porch.com.
To take advantage of this growing market segment, consider what aspects of your home could appeal to Millennials.
According to the Porch.com report:
- 62% of Millennials say it’s important to be close to work, compared to 42% of all homebuyers
- They’re more interested in being close to friends and family than other generations
- The proportion of Millennials buying homes in urban areas has fallen from 21% to 15% in the past few years, with the number buying in suburbs nearly mirroring the national average.
Your Texas REALTOR® can provide additional research on Texas homebuyers and give you advice about how to best position your home for your local housing market.