Our recent post Mellennials Ready to Buy? suggested that the Millennial generation was, at long last, seriously considering entering the home buying market. Now the 015 National Association of Realtors ® Home Buyer and Seller Generational Trends study contents that the Millennials are actually buying right now as they represent the largest share of recent buyers. Buyers 34 and younger comprised 32 percent of all buyers in 2014.
Optimism towards home ownership remains strong within this group. In fact, over 80 percent of Millennial and Gen X (ages 35-49) buyers consider a home purchase a good financial investment and the simple desire to own their home remains the the prime motivation for Millennials to buy.
Finally, it has often been suggested that Millennials use the Internet exclusively to buy thereby bypassing the more traditional route real estate professionals. However, the National Association of Realtors found that a full 90 percent of Millennials use realtors in their search.
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