Millennials contradicted the popular freeloading stereotype by topping the charts this past year as the demographic that bought the most homes. This age group, which is comprised of adults 34 years and younger, was responsible for 32% of all United States home purchases this past year according to the 2015 National Association of Realtors Home Buyer and Seller Generational
Trends study. Another surprising finding from this survey was that millennials who bought homes were most likely to do so with their unmarried partner, with the median age of the buyer being 29. This trend shows the effect of cultural changes that have been at work over the past decade, as couples are now more likely to cohabitate before getting hitched. This desire start on the path toward marriage and raising a family was the motivating factor driving this flood millennials to invest in real estate, as they needed more space and could see the financial benefit of buying rather than renting as rent prices have been on the incline lately
Buying a home is one of the defining in a person’s life, and often marks their entrance into adulthood. With the economy rebounding and more people going back to work, now is the perfect time to invest in the home of your dreams. If you are interested in learning more about South Florida’s residential or commercial properties currently on the market then contact a RE/MAX agent today and they would be happy to assist you.