Latest data shows Millennials are finally leaving the nest

By
Real Estate Broker/Owner with Zion Realty

It seems that young Americans, or what's commonly referred to as the Millennial Generation, are on the move out of mom and dad's basement and into their own homes. The latest data from the Department of Commerce and the Department of Labor shows a decrease in the percentage of 18-34 year old's living with their parents. This percentage had been steadily rising since 2009.

If you or someone you know are thinking of buying a home or have recently begun your home search in Arizona, contact us at ZionRealtyAZ.com and let us do all the work for you. 

 

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Rainmaker
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Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Great news, and parents will probably be happy also!  Thanks for sharing.

Jan 07, 2015 06:30 AM #3
Rainmaker
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Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Hello Nicole,

And parents across the nation are heaving a sigh of relief (LOL)

Jan 07, 2015 07:06 AM #4
Rainmaker
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Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Ron - A lot of them are probably breaking out into rentals but hey, it's a start!

Bob - I am seeing a slight increase in younger buyers calling me to inquire about home ownership in my market.

Kat - I'm sure many parents are ready for their utility and grocery bills to go down! 

Lisa - I love my kids dearly but I sure hope they aren't still living with me by the time they're in their late 20's.

Jan 07, 2015 07:23 AM #5
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

But the question is will they return? I had this conversation with a client today and she thinks that they rely too much on Mom and Dad as a back up plan if they fail on their own.

Jan 07, 2015 08:15 AM #6
Rainmaker
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David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

I am sure my wife would be happy to have the kids here longer but I am OK with them going out and learning about life without everything being provided.

Jan 07, 2015 08:49 AM #7
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TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

Good evening Nichole. I was talking to a local broker about this earlier today. I think that this will be a good sign.

Jan 07, 2015 09:13 AM #8
Rainmaker
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Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

Would this be because the parents are now living with there 35-55 year old children Nicole Doty - Gilbert Real Estate Expert ?  

Jan 07, 2015 09:45 AM #9
Rainmaker
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Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

When I first read your title, my first thought was, "doesn't she mean mom and dad's basement?"  Great minds think alike.  This gives all hope!

Jan 07, 2015 11:43 AM #10
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I actually wish my daughter had been here longer.  She left the nest just 16 days after her 18th birthday to start college and never came home.  Of course she only lives 15 minutes away now, which I like.

Jan 07, 2015 12:07 PM #11
Rainmaker
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Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

It's nice that the parents let the children stay so long, hopefully they saved the money needed to purchase a place of their own.

Jan 07, 2015 12:14 PM #12
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I remember buying my first place one year after leaving my Mom's nest.  

Jan 07, 2015 12:15 PM #13
Rainmaker
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Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

It's interesting, but I am also finding that many of them are moving back with Mom and Dad too and Multi-generational homes are in demand...

Jan 07, 2015 07:34 PM #14
Rainmaker
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James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

We have an 18 YOA grandson living with us.  He's talking  about moving out in a year or two.  That's okay with us he is delight to have around.

Jan 07, 2015 08:18 PM #15
Rainmaker
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Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

We never heard it, but I think Mickey and my Dad T had a rule.....21 and out!

Jan 07, 2015 11:03 PM #16
Rainmaker
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Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Debbie - A lot of them do return unfortunately. The real world is scary! 

David - It will be bittersweet when my kids move out.

Michael - It's at least a step in the right direction.

Tom - There are certainly an increasing amount of those types of households as well!

Susan - I almost put that in the title!

Tammy - When I moved out I moved several states away and for good reason! I hope my kids don't think of me like that when it's time to leave our house.

Evelyn - That's always the plan when they live at home for an extended period but it doesn't always work out that way.

Chris - My first apartment in Tucson with two other roomates was an absolute dump!

 

Jan 08, 2015 12:44 AM #17
Rainmaker
679,819
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Larry - Multi-generational homes are very popular flex floorplans among the new build houses here in my market.

James - As long as they adhere to the household rules and have a clear plan in place for how and when they are going to proceed in life then my kids can stay as long as they need.

Roger - There used to be a lot more parents like that. Either you go to college, join the military, or get a job but you ain't staying here no more!

Jan 08, 2015 12:47 AM #18
Rainmaker
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Shanna Hall
Real Estate Solutions - Kirkwood, MO
I love selling houses!!!St. Louis, MO 314-703-1311

Nicole Doty - Gilbert Real Estate Expert I am amazed at how many people I know in the younger generations that still live with their parents...  Mine will have 1 year after college completion to get on her feet and move out...  She will be 22 at that point but should have a great job and on her own;)  I am sure that I am going to miss her while she is away at college;(

Jan 08, 2015 01:33 AM #19
Rainmaker
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Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Shanna - Mine are 17 and 14 and I'm not sure my husband and I really have a set rule so far when it comes to them moving out. I'm pretty sure our 14 year old wants to work for our brokerage in some capacity but the 17 year old isn't quite sure what she wants to do yet. 

Jan 08, 2015 01:40 AM #20
Rainer
126,164
Mike Tizzano
Amerifirst Financial, Inc Equal Housing Oppurtinity Lender AZ BK0013635 NMLS 145368 LO:1015837 - Mesa, AZ
Protect Your Transaction Certified Lender

Right now I have 5 loan applications in process and they're all under 30 years.  Many of them found me through information I shared on my Social Media that they may not have otherwise known.  A lot of them do not know what's available to them as far as purchasing a home, i.e. DPA- or low down programs.  

Jan 08, 2015 02:07 AM #21
Rainmaker
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Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Mike - That's great Mike! It's good to hear they are coming out looking at their options.

Jan 08, 2015 04:58 AM #22
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Nicole Doty - Gilbert Real Estate Expert

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