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The Home Buying Power of Moving Millennials

Updated: Jan 13

More millennials are advancing in their chosen careers and establishing their finances, enabling them to afford to buy their own homes. According to the National Association of Realtors (NAR), millennials are the largest set of home buyers today. They have become keener on health and functionality, especially these past few years.

Source: National Association of Realtors Home Buyer and Seller Generational Trends

The ongoing health crisis has brought about many changes. In the last two years, more people have been given the option to work from home, as industries needed to find ways to continue doing businesses without requiring people to be physically present at all times.

Remote work has pushed more people, especially millennials, to think about the kind of home that they want. Many have opted to sell their homes and moved to greener and bigger spaces. The need for a change of scenery has become more prevalent, as people try to adapt to a new kind of lifestyle.

According to a study, a change of scenery could actually improve one's happiness. Thus, it is quite evident why most millennials are now opting to move into environments that they appreciate, rather than living in places that limit their creativity and productivity.

Source: Barcelona Institute for Global Health

Wrap Up

Millennials have more purchasing power now than they may realize. Whether it's buying a home for the first time or moving somewhere to have a boost of joy, it's important to connect with a trustworthy real estate agent who has ample connections in the market. A Realtor® may not only provide options, but also make the process easier, particularly with today's challenging real estate market.


Disclaimer: Views and information provided in this post are for general informational and educational purposes only and is not a substitute for professional advice. Before taking any action based upon such information, we encourage you to consult with the appropriate professionals. The use or reliance to any information contained on this site or mobile application is solely at your own risk.

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