Who’s Buying Homes in 2018?
This year, there are three consumer segments in particular that will have an important impact on the real estate market. These homebuyers are helping to drive the market now and will continue to do so in the coming months.
Millennials. Through 2018, millennials will mostly likely be the driving force in the housing market, even though the shortage of affordable entry-level properties has created a challenging barrier for them. By the end of the year, millennials could make up as much as 43 percent of the buyers’ market, according to Realtor.com.
Generation Z. Born between the years of 1995 and 2001, this segment’s oldest bracket is soon expected to enter the post-college housing market.
The Forgotten Generation. Anyone who is forced into a foreclosure must wait seven years before being able purchase properties again. According to the National Center for Policy Analysis, roughly 1.5 million Americans (many of whom were forced into foreclosure when the housing market crashed) will become eligible to re-enter the housing market in 2018.