Millennials Move Toward Home Ownership

 

“A recent monthly poll of more than 2,000 real estate professionals nationwide showed higher reports of first-time buyer activity much earlier than is typical, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. The survey showed that first-time homebuyers accounted for about 36 percent of overall home purchases in December.

“Millennials are at a critical demographic tipping point where their sheer numbers will naturally drive demand for more home sales,” he notes in recent housing commentary at realtor.com®.

He says that home sellers should be encouraged, particularly those who own affordable homes and are looking for a long-overdue upgrade. With the move by many lenders recently to permit smaller down payments on home purchases, more millennials will likely make a move and that means home sellers “who’ve been sitting on equity in entry-level homes can finally upgrade to bigger homes and retirement homes.”

read more from Realtor Magazine online here:
http://realtormag.realtor.org/daily-news/2015/02/03/millennials-move-toward-home-ownership#sf7255810

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