There are just over 100 million Americans in Generations X and Y which are those born from the early 1960s to the early 2000s decade. These generations will be our driving force in the years ahead both in the economy and even here in the Denver real estate market. It was likely the media coverage during the downturn that made them more knowledgeable and aware. They know a lot about the market and they are smart about buying.
Some believe these generations have the wrong priorities and do not place a high emphasis on home buying, but according to a survey by Better Homes and Gardens Real Estate that is simply not true. They found that these generations take a strategic approach to their future. They also found that 71% feel that a home is something they need to earn and not just something they deserve. They understand what it will take on their part to be able to buy a house.
These young buyers know that details are crucial to planning. They are researching the risks and rewards of every decision they make in the home buying process. The main area they research is interest rates, according to the survey, followed by prices and the ability to secure a loan. Luckily for sellers they found that 75% of them believe that buying a house is related to how they view their success. That will give them motivation to buy a Denver home sooner rather than later. Let’s hope Generations X and Y keep the desire to own a house so that our economy and real estate markets grow.
Are you ready to buy or sell a home in the Denver area? Contact the Bandy Team to see what we can do for you! We’re happy to answer any questions you may have about metro Denver. We would love to show you some terrific properties in Englewood, homes in Franktown, or real estate in Aurora.
Until next time,