Las Vegas Real Estate News

Millennials Are Beginning To Enter Real Estate Market

In 2020, the largest group of Millennials will turn 30 years old and reach the home-buying time of their lives.

In an article published in Realtor Magazine, Mark Fleming, Chief Economist for First American Financial Corporation said, "Millennials—the most educated generation—have the highest incomes across their generational cohorts, even when salaries are adjusted for inflation."

As of 2019, Millennials outnumber Baby Boomers and are bringing unprecedented home-buying power to market.

Millennials differ from previous generations in that they are well-educated about home buying, lived through the housing crash of the mid-2000s, and are often purchasing their dream homes as their first home.

The largest group of buyers in the United States now are Millennials, finally outpacing the Baby Boomer generation.

At this time, Millennials can take advantage of softening housing market nationwide, low interest rates, and some fairly good deals on down payments.

For those considering selling, now might be the perfect time. Home values are still increasing, but that has slowed in much of the country. In some places, experts are warning that home values have peaked for now.

Available existing home inventories are still low in places like Las Vegas. Putting an existing home on the market attracts a lot of attention since there are not many around.

In short, now might be the best time to sell in the near future. A huge number of new buyers are entering the market and home values are near maximum.

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