Millenials need to be held from a different perspective if you are...

By
Real Estate Agent with Berkshire Hathaway HomeServices 01238708
http://activerain.com/droplet/5c6R

Millenials need to be looked at from a different perspective if you are a Realtor. Times have changed.The millennial generation started growing up.

They are getting married, buying homes and starting families in increasing numbers. And as a result, they're starting to realize that the liberalism they espoused as youths comes at too high a price in adulthood.

According to the census data, the median age at which women are getting married is now 27.4, and for men it's 29.5. Given that the age range for millennials is roughly 18 to 38, that's right in the middle of this generation.

 

Getting to know the millennial homebuyer

Millennials* are officially the largest group of homebuyers in the U.S.
Here's what you need to know about them:

Communication Preferences
Today's homebuyers value speed, convenience, and a 
mix of in-person and digital interactions.

 

* Millennials are applicants born between 1980 and1999.

Housing trends at a glance

 

 

Sources: 
[1] Ellie Mae® Millennial Tracker, March 2018.
[2] Ellie Mae Borrower Insights Survey, 2018.
[3] Great TEXTpectations: The Text Messaging Playbook for Sellers, 2018.
[4] National Association of Realtors® (NAR) Existing-Home Sales, March 2018.
[5] U.S. Census Bureau, Monthly New Residential Sales, March 2018.
[6] Ellie Mae Origination Insight Report, March 2

 

 

Buying Homes

In addition, homeownership rates have been shooting up lately, a trend that industry experts attribute largely to the fact that millennials are starting to buy homes.

The National Association of Homebuilders said earlier this year that the homeownership rate among millennials had registered the largest gains among all age groups.

The  employment-to-population ratio among 24- to 34-year-olds, for example, is finally back to its pre-recession level of 79%, after remaining stuck in the low- to mid-70% range for most the last nine years.

The Economic Optimism Index among those age 18 to 24 is now at 59.3, according to the IBD/TIPP Poll. It has averaged 57 since President Trump took office. (Anything over 50 is optimistic, under 50 is pessimistic.) Among those age 25 to 44, the optimism index is 53.5, which is higher than the overall index.

My point is that it is time to take Millenials serious. They are ready to buy and if you still believe what was said about Millenials two and three years ago, your business model will be out of date and you will be missing out on one of the largest segment of the buying population.

Now with that said if you were born between 1980 and 1999 and are looking for a seasoned Beverly Hills Realtor who is not going to look the other way, please feel free to text me, or email me at  homes@endrebarath.com  or call me old school and call my mobile 310.486.1002. 

 

If you are looking for a focused and goal-oriented Realtor in the Beverly Hills area who will help you achieve your Real Estate goals, please reach out to me directly!

If you are looking for a pet friendly Beverly Hills Realtor who can handle and sell the most difficult properties that no one else could, please reach out to me directly!! If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 (m) or homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com.  I contribute a portion of my commission to local animal rescue organizations.

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
California Los Angeles County Beverly Hills
Groups:
CALIFORNIA DREAMING
Bananatude
ActiveRain History Station
Hyper-Local
ActiveRain MasterMinds
Tags:
millenials
endre barath
endre barath beverly hills realtor
endre barath berkshire hathaway beverly hills realtor
millenials are buying homes
millenials need to be looked at from a new perspective

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
246,355
Ron Aguilar
Continental Mortgage - Saint George, UT
Mortgage & Real Estate Advisor since 1995

Interesting. For many months I have been testing the response rate of infographics that contain statistics, financials, etc. Lately I have been emailing and direct mailing details and guidelines of FHA or Conventional Mortgages. Basically how to really qualify to ultimately buy.

Guess which one gets a better response rate?

May 06, 2018 08:17 AM #54
Ambassador
1,672,265
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Endre Barath, Jr.  very well thought out post -love the graphics

May 06, 2018 09:01 AM #55
Rainmaker
351,201
Diana Dahlberg
1 MONTH REALTY - Kenosha, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Really enjoyed this post Endre Barath, Jr. 

Love working with Millennials.  They know what they want and expect.

Congratulations on the Feature!  Well deserved.

May 06, 2018 03:39 PM #56
Rainer
402,289
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Endre,

Nice analysis. We have a lot of millenials in the market now too.

May 06, 2018 08:22 PM #57
Rainmaker
2,617,189
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I love all your graphs. Here in my area i am seeing a great deal of millennial becoming first time buyers. I like the statement they are growing up. Most have come around to wanting a family and their own home. Their needs and wants can go from similar to the average buyer to completely maintenance free not wanting to do anything. I adjust to each buyer to give them the service they want. All start online but many learn they want or need good service after getting little to no service in their first try 

May 07, 2018 05:38 AM #58
Rainmaker
13,553
James Grant
Asheville, NC

Good Morning, Endre, Yes Indeed, millennial are started growing up. Unlike of the past 10 years, We are fast growing these days, this is a fact that we cant control. Thanks for Sharing! 

May 07, 2018 06:26 AM #59
Rainmaker
1,367,420
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Well deserved feature Endre Barath, Jr., most of the millennials I work with are coming from other states and are investors. We must speak their language for sure. 

May 07, 2018 06:36 AM #60
Rainmaker
10,871
Theresa Hus
RealEstateAgent.com - Hollywood, FL
The Official Real Estate Agent Directory

Great Post! Thorough information.

May 07, 2018 06:52 AM #61
Rainmaker
654,491
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

We are seeing them enter our market in increasing numbers. Like the graphic, worthy feature. 

May 07, 2018 08:40 AM #62
Rainmaker
436,160
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Specializing in Brookside, Waldo, Prairie Village

I agree with you and thanks for the stats. This group of buyers knows that real estate is a good investment!  Just need more inventory in the moderately price range for them to buy. In my area that's under $300K

May 07, 2018 08:41 AM #63
Rainmaker
10,128
Ricardo Mello
Manhattan Miami Real Estate - Manhattan, NY
Manhattan & Miami Real Estate Broker

Very interesting topic Endre. On my end, I haven't had any experience with milenials on the sale side (only renters).

May 07, 2018 01:32 PM #64
Rainmaker
1,467,887
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Great advice for all of us to see the tsunami for what it is.

May 08, 2018 04:46 AM #65
Rainmaker
703,663
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

Super comprehensive post - I agree with your analysis that it's time to take millenials seriously if you previously didn't.

May 08, 2018 06:03 AM #66
Rainmaker
66,369
Alesha A. Wilson, M.Ed., MRP
525 Realty Group - Edmond, OK
Buy and Sell with Confidence

Love your "heads up" approach post!  I better start utilizing one of my greatest millenial resources - my son.  May have to run the marketing by him first 

Congratulations on the Feature Endre

May 08, 2018 07:51 AM #67
Rainmaker
305,662
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Great thoughts, and I agree. I love working with milleanials - in my geographic area Tempe, AZ, the median age of residents is 33. Millenials love infographics, and texting, and meeting face-to-face with lenders.

May 08, 2018 08:23 AM #68
Rainmaker
877,492
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Definitely!  I am helping yet another couple who are milennials.  Great information Endre!

May 10, 2018 02:25 PM #69
Rainmaker
2,675,124
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Anna Banana Kruchten CRB, CRS, Broker  I am so late with my response, you are so right there is a conservative trend once someone becomes a home owner and discovers that the home is not the ATM for politicians:))Endre

May 10, 2018 11:41 PM #70
Rainmaker
2,675,124
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

George Souto  before they buy a home I agree once they become home owners their mentality changes, Endre

May 10, 2018 11:42 PM #71
Rainmaker
2,675,124
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Teri Pacitto  thank you for stopping in, Endre

May 10, 2018 11:43 PM #72
Rainmaker
920,930
Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

Hi Endre,
This is a very interesting post!  The graphics are very informative and enlightening. 

May 11, 2018 06:32 AM #73
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
2,675,124

Endre Barath, Jr.

Realtor - Los Angeles Home Sales 310.486.1002
Ask me a question
*
*
*
*
Spam prevention