Wisconsin REALTORS® Association: Millennials Entry Level Market

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Millennials are not just important for the entry-level market 

Millennials Painting First Home

In 2015, the Millennial generation became the largest numerical segment of America's workforce. In 2016, they will become the largest percentage of the workforce. Although Millennials have been slow to enter the housing market, the National Association of REALTORS® indicates that 91 percent of Millennials report that they want to get married and own a home. As they do so — and many have already bought homes — they will become the largest generation of homebuyers in American history. In the first edition of the Insights report, professor Steve Malpezzi of the James A. Graaskamp Center for Real Estate at the Wisconsin School of Business provides information and insights about your future customers.

Starter homes 

The housing market is a connected web of submarkets, and first-time homebuyers not only house themselves but are the sources of demand to enable more established households to trade up. And as Millennials get on the housing ladder, in time they’ll be the backbone of the trade-up market.
Millennials Are Important Entry Level
Source: Trulia  

 

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