Millennial Monopoly

What’s behind the increase in home ownership? Growing interest from millennials. Here are the 2019 millennial real estate trends you should know regarding this year.

Millennial Monopoly: 4 Real Estate Developments in 2019

Empowered with Knowledge

First-time, home-buying millennials tend to be more informed concerning renovations, repairs and real estate process than other generations. Growing up throughout the development of the internet has made them very tech and research savvy and able to find approaches to access important information such as listings, neighborhood reports, HGTV home renovation videos and other forms of industry information independently. In 2019, they are going to count on real estate agents to share information that they can’t find online which includes neighborhood developments, local market forecasts, local housing regulations and more.

Buying homes – despite rising rates

Millennials continue to make up the largest segment of buyers, making up 45% of mortgages, as compared to 17% of baby boomers and 37% of Generation Xers. While first-time buyers will struggle, older millennial move-up buyers are going to have more options in the mid-to upper-tier price point and will make up the majority of the millennials who close in 2019. As their housing needs adjust in time, millennials are on track to make up the largest share of home-buyers for another decade.

Sweat Equity

Many millennials grew up watching renovations and makeovers on HGTV, which implies the majority of them are prepared to invest sweat equity in their new home. Millennial home-buyers, overall, tend to be more conscious of the expenses, work and implications of renovations as opposed to previous generations. This is great news as interest rates rise and buyers should be ready to accept homes in need of TLC.

New Buying Strategies

Social media continues to impact millennial home-buying habits. They depend on online reviews to make purchasing decisions, along with a strong online reputation for real estate professionals is critical in serving this market. In fact, research conducted recently showed A that millennials would rather purchase a house from a real estate agent influencer compared to a traditional real estate agent. Showcasing a home on social media, especially on visual-heavy platforms like Instagram, is crucial for attracting millennial buyers.

Research your way to the correct real estate agents who are able to make a major difference. Nick, Cindy & Nicholas Davis are more recommended given that they recommend what’s right for you and your future.

Ready to find your new home here in the Tampa Bay and Surrounding Areas? Nick, Cindy & Nicholas Davis with RE/MAX Premier Group are here to assist you with all your Real Estate Needs. We are always available at 813-300-7116 to answer your questions or you can simply click here and we will be in touch with you shortly.

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