Millennials Are Suspected To Dominate The Housing Market In 2020

Millennials are reaching milestones as 4.8 million are creeping up on age 30, and they are suspected to dominate the housing market this year (Nicosia).

One reason for this is because they are at the age where they are settling down with their own families and are ready for one of, if not, the biggest purchase they will make in their lives (Nicosia).

They are expected to take on half of the mortgages this year, zipping past Boomers and Gen X.

With interest rates low and rental rates rising, millennials of all ages across the nation are presumed to keep the 2020 buyers market in tip top shape.

While this sounds all fine and dandy, the one concern is that there will be a low supply of homes available since there are more buyers than homes coming in.

However, not all is lost. Find a great Realtor who will guide you in the right direction and someone who will act fast. That is the key…buyers will have to act FAST.

And what about the sellers in this equation you ask? Since there will be a low inventory of homes for buyers, sellers will need to adjust their expectations…and possibly their asking prices (Nicosia).

 

Sources:

“Millennials Will Propel the U.S. Housing Market in 2020.” Written by Mareesa Nicosia.

 

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