Who’s Buying Now
Millennials are making headlines once again. Major outlets are touting a survey recently released by the National Association of Realtors showing that for the second consecutive year, millennials (those 34 years and younger) made up the largest group of recent buyers.
The up-and-comers comprised 32 percent of all buyers. Generation Xers (ages 35-49) made up 27 percent of buyers. Lawrence Yun, the association’s chief economist, says these groups consider their home purchase a good financial investment.
“Fixed monthly payments and the long-term financial stability homeownership can provide are attractive to young adults despite them witnessing the housing downturn and subsequent slow recovery in the early years of their adulthood,” he said.