Millennials Continue to Set the Pace in Real Estate
June 23, 2015

Millennials Continue to Set the Pace in Real Estate

Millennials continue to make headlines in real estate news this month, as the National Association of Realtors 2015 Home Buyer and Seller Generational Trends reports that the millennial generation (ages 34 and younger) comprised 32 percent of all buyers. Generation X (ages 35-49) made up 27 percent.

The report also showed that millennials were heavily dependent on the Internet and mobile apps for their home search, but ultimately enlisted the services of an agent to find and complete the sale. Gen-X homebuyers relied on open houses in their searches. The up and coming generation is also buying their first homes at a younger age (29) as opposed to gen-xers who purchased their homes at 41 years old. Millennials are also less likely (compared to other generations) to be married when purchasing their first home.

“Over 80 percent of millennial and gen-x buyers consider their home purchase a good financial investment, and the desire to own a home of their own was the top reason given by millennials for their purchase,” Lawrence Yun, chief economist for NAR, said. “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.”

What influenced millennials the most in their purchase? Quality of neighborhood and convenience to jobs. And while suburban areas saw the highest activity in sales among all generations, there was an uptick in millennials moving to urban areas as well.

Gen-Xers made up the largest segment of those selling homes (27 percent) with older baby boomers making up 23 percent.

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Lyon Real Estate

Ranked the number one brokerage in annual home sales in the greater Sacramento region by the Sacramento Business Journal, Lyon Real Estate has served the area for over 70 years. In 2017, the company closed 7,333 transactions worth a total of $3 billion in sales volume. Lyon Real Estate has 950 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to and follow us on