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You may have heard that the millennial generation – now in their 20s to early 20s – has been slow to embrace the home ownership milestone. That has started to change in the last 2 years, however, and this generation now comprises 32% of the home buying market nationwide. Where are they buying homes? According to CNN Money, our own Grand Rapids, Michigan, is one of the top 10 cities for millennial home buyers, based on mortgage data.
Statistically, the largest number of buyers is always those in the 25-34 year old age range. However, millennials have had a different experience than previous generations, and they have challenges that previous generations have not had to face. For many, the job market was soft upon their graduation, and they also faced unprecedented student loan debt, credit card debt, and car loans. This generation is now entering the home ownership market in their own way, with a few unique twists, like a greater tendency to buy before marriage, own for shorter periods of time, and flip with enthusiasm.
Given that backdrop, why is Grand Rapids real estate so attractive to millennials? For some of the same reasons that all categories of buyers are attracted to this market.
For millennials who want to live in the city, there are many options near the downtown area, but many are also attracted to nearby areas that are close to work, in thriving, walkable neighborhoods. To learn more about home ownership around Grand Rapids , contact The Sprich Group.
Photo: Nicholas Raymond ( some rights reserved )
Realtor Tom Sprich goes the extra mile to help you achieve your goals.
That’s why Tom constantly researches the real estate market and property values so your home is priced effectively from day one. Tom also makes certain the public knows your home is for sale by using innovative advertising and marketing techniques and The Sprich Group’s web site to attract potential buyers.
How we love our gift from the two of you! The drawing will always remind us of our Maryland home and the thoughtful "givers". I think we will name our new gift... "Done in a Day", as you sold our
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