More Millennials are looking to buy a home within the next year according to a new survey by HarrisX and backed by Realtor.com.
Of those surveyed, 75% were working remotely, which is one of the drivers pushing them to seek new housing. The ability to work remotely allows Millennials to grow their area interest and shop for homes further from their jobs. And while they know the market is extremely competitive right now, many are looking online at listings, driving by homes, and watching listing videos to get a feel for the properties they are looking at. The pandemic has provided them with an opportunity to save for a down payment, and they are ready to move on.
So what are Millennials looking for? Well, if you are thinking of selling your starter home to move into a larger house, now may be the time to list! Because of low housing inventory and mortgage rates, homes are selling more quickly and often for more than the asking price. Plus, more than a third of home-shopping Millennials are looking for a starter home. Almost two-thirds are seeking homes under $350,000, the US median home price.
If you are thinking of selling, let’s talk. There are so many buyers ready to find their next home. I would love to connect you with some. Are you a Millennial? If you have been shopping around for a house on your own, reach out! I have some great properties that are sure to fit the bill.