Millennials Hitting Record Highs Buying Homes

 

From the Pacific Union Blog. 

While Napa Valley may exhibit a unique and different demographic than much of the Bay Area, it is always good to pay attention to trends. 

"Millennials remain the most active U.S. homebuyers, though tight inventory conditions, strong price growth, student debt, and higher costs of living remain challenges to ownership for that generation.

The National Association of Realtors’ annual 2018 Home Buyer and Seller Generational Trends study says that millennials accounted for 36 percent of purchases over the past year, a slight uptick from the previous survey and an all-time high. Defined as Americans under the age of 37, millennials have been the most active group of U.S. homebuyers for five straight years.

Millennial homebuyer activity in Bay Area job centers mirrors the national trend. According to a February analysis of Pacific Union data by Chief Economist Selma Hepp, buyers under the age of 35 accounted for 37 percent of transactions in San Francisco between August 2017 and January 2018, while millennials were responsible for 35 percent of purchases in Silicon Valley."

See more: https://blog.pacificunion.com/millennial-homebuyer-activity-climbs-to-record-high/

Stefan Jezycki