Millennials Are Buying Homes For This Surprising Reason

Posted by West + Main Homes on August 1st, 2017

Why are Most Millennials becoming Homeowners?

 

When millennials buy houses, it’s for an unexpected reason.

According to a new study by Harris Poll, commissioned by SunTrust Mortgage, one of the top reasons millennials—here defined as those between the ages of 18 and 36—choose to settle down is due to their dogs. That’s right: Thirty three percent of participants cited the need for more space for their furry friends as the leading factor behind purchasing a house. That number may fall behind their own need for more space (66 percent), and the desire to build equity (36 percent), but it’s surprisingly ahead of both marriage (25 percent), and the birth of a child (19 percent).

You know, priorities.

To arrive at this conclusion, SunTrust polled…

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Millennials: From Renting to Buying

Posted by West + Main Homes on July 18th, 2017

Where are millennials living?

More of them are Buying homes instead of paying rent.

So many people are moving to Denver nowadays; especially Millennials. It used to be that Millennials could only afford to rent, but times have changed and buying is now the preferable option. Young adults in Denver own homes at a higher rate than their peers in the rest of the country — 34.2% versus 32.1%, according to a study from Abodo. 

Among the 45 largest metro areas, Denver ranked 15th for the most Millennial homeowners.

After trending downward over the past decade, the homeownership rate among young adults in Denver appears to have hit a bottom in 2014 at 32.8%. In 2006, before the housing bust, 43.8% of adults ages 18-35 lived in homes or condos…

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