2015 the year for the millennial buyer in Des Moines Metro area?

By
Real Estate Agent with RE/MAX Real EstateGroup.com
https://activerain.com/droplet/4spD

Young millenium buyers

 

 

 

According to Realtor.com®'s

 

Millennials will drive household formations: Both population and households have grown at a slightly higher pace in 2014 and this trend will continue in 2015 with modest improvement over this year's increases. Households headed by millennials will see significant growth as a reflection of economic gains. Millennials will also drive two-thirds of household formations over the next five years. Next year's addition of 2.75 million jobs and increased household formation will be the two key factors driving first-time buyer sales. 

 

According to Realtor.com®'s Top 10 Markets for Housing Growth in 2015 Des Moines-West Des Moines Iowa was a market to watch for Millenial share of households and growth.  The National Association of Realtors®. found that one-third of the homebuyers during the first quarter of 2014 were Millenial buyers. 

 

Lawrence Yun, NAR chief economist, said the Millennial generation, which is under the age of 34, is now entering the peak period in which people typically buy a first home. “Given that Millennials are the largest generation in history after the baby boomers, it means there is a potential for strong underlying demand. Moreover, their aspiration and the long-term investment aspect to owning a home remain solid among young people,” he said.  “However, the challenges of tight credit, limited inventory, eroding affordability and high debt loads have limited the capacity of young people to own.”

 

NAR analyzed 100 metro areas that have a large Millennial presence, solid local job market conditions and strong migration patterns of young adults moving to that particular area to determine the best purchase prospects for young buyers. Housing affordability and inventory availability were also considered.

 

The best purchase markets for aspiring Millennial homebuyers are (listed alphabetically):

 

  • Austin, Texas

  • Dallas

  • Denver

  • Des Moines, Iowa

  • Grand Rapids, Michigan

  • Minneapolis

  • New Orleans

  • Ogden, Utah

  • Salt Lake City

  • Seattle

     

    Looks like 2015 is the year for the Millennial buyer in the Des Moines Iowa metro area.  Bring it on Millennials!

     

     

 

Posted by

Peggy

Peggy  Harmeyer & Associates

RE/MAX Real Estate Group

932 Shadyview Blvd.

Pleasant Hill, Ia 50327

Licensed in the State of Iowa

Peggy : 515-208-8132 

Caitlyn: 515-321-3821

Peggy@PeggyHarmeyer.com

An Independently Owned and Operated Member RE/MAX Real Estate Group

Information is believed to be accurate but should not be relied on without verification.

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