When it comes to building a booming real estate business, you’ve got to know where the next hot group of buyers and sellers may be focusing their home seeking-attentions. Popular beliefs tell us that millennials—those between the age of 18 and 34—just aren’t buying homes. Right?
Not so fast. The official homeownership rate published by the Census gives a misleading picture of homeownership trends. In fact, homeownership among young adults is not too far off from where demographics say it should be.
And, as it turns out, young adult homeownership is actually on the rise. Is your market poised to become the next hotbed of young homeowners?
Recent Census Bureau findings show that millennials are flocking to big-city suburbs and lower-density cities. Check out these 10 cities, which made the list of the top 10 metros for millennial population growth—they may just be the next hottest real estate for millennial home buyers and sellers!
