Sixty-five percent of the millennial generation, ranging in age roughly from 18 to 34, say that their intention to purchase a house has significantly increased in the past year, according to a survey from PulteGroup.
“As the economy continues to stabilize, more young adults will wean off of mom and dad and start to live on their own, spurring added economic growth,” HousingWire reports.
Nearly 20 percent of men ages 25 to 34 reportedly live with their parents, while 9.7 percent of women that age still live at home.Your Realtor Stuart Nesbitt
As this generation gains greater financial security, more millennials will begin to embark on their own.
A recent article from Barron’s notes that Generation Y could surprise the nation in upcoming years with their spending power and economic growth. The generation is 7 percent larger than the baby boom generation.
"Millennials have witnessed the housing boom and bust, but still believe home ownership is a good investment," says Fred Ehle, vice president for PulteGroup.
Source: “Millennials Rightly Positioned to Boost Economy,” HousingWire (April 29, 2013)
Inlet Cove is alongside Route 1 This neighborhood of townhouses is near grocers and eateries Inlet Cove is close to Fort Belvoir, Alexandria, and Potomac Mills shops, in the city of Woodbridge Interior to these properties are multilevel Inlet Cove is serene
Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1…
Some of the best housing deals are on high-end homes, many over $1 million. Some of them need TLC or they aren’t in the most-coveted locations. But there are plenty of desirable properties and lots of sellers who are getting impatient. Buyers with cash have the best opportunities. Buyers who need a mortgage should move…
The National Association of Realtors recently did a study about the characteristics of home buyers. Some of the findings might surprise you. Thirteen percent of buyers purchased a home with one or more parents and grandparents together with adult children. There were several reasons given for purchasing a multi-generational home. Cost savings; Children over the…
The U.S. home ownership rate has fallen to its lowest point since 1995, the Census Bureau reports.
The home ownership rate dropped to 65 percent in the first quarter, down slightly from 65.4 percent a year earlier.
Housing analysts say tight credit conditions, constrained inventories of for-sale homes, and an increase in single-family rental homes have caused the home ownership rate to fall.
Paul Diggle, a property economist for Capital Economics, says he predicts the home ownership rate will likely fall for the remainder of the year.
The home ownership rate peaked in June 2004 when it stood at 69.2 percent.
Source: “U.S. Homeownership Rate Falls to Lowest Since 1995,” Bloomberg News (April 30, 2013)
The home ownership rate dropped to 65 percent in the first quarter, down slightly from 65.4 percent a year earlier.
Housing analysts say tight credit conditions, constrained inventories of for-sale homes, and an increase in single-family rental homes have caused the home ownership rate to fall.
Paul Diggle, a property economist for Capital Economics, says he predicts the home ownership rate will likely fall for the remainder of the year.
The home ownership rate peaked in June 2004 when it stood at 69.2 percent.
Source: “