Home Sellers - Create a "Millennial Magnet"

Sellers whose homes are ideal first-time-buyer starter homes may count on attracting millennial buyers to purchase this real estate. If so, sellers benefit from learning how to look at their homes from the millennial point of view since this group does not represent the force that it has in the past. With more than 83 million millennials — a larger group than boomers — needing a roof over their head, millennial home buyers should represent very significant proportions of the real estate purchasers in many markets — but they don't. According to the National Association of Realtors 2015 2015 annual home buyers and sellers survey, the percentage of buyers who were first-timers was down to an almost historic low of 32%. Only one-third of these first-timers are millennials, where traditionally this group represented the majority of buyers. The thirty-something millennial segment that is buying has the income, borrowing clout, dual income status, and parental-boosted down payment to afford home ownership, where their millennial colleagues are renting or living with their parents.