Think All Millennials Live In Their Parents Basement

Think All Millennials Live In Their Parents Basement

Think All Millennials Live in Their Parent's Basement? Think Again!

Think All Millennials Live in Their Parent's Basement? Think Again! | MyKCM

According to the Census Bureau, millennials have overtaken baby boomers as the largest generation in U.S. History. Millennials, or America's youth born between 1982-2000, now represent more than one quarter of the nation’s population, totaling 83.1 million.

There has been a lot of talk about how, as a generation, millennials have ‘failed to launch’ into adulthood and have delayed moving out of their family’s home. Some experts have even questioned whether or not millennials want to move out.

The great news is that not only do millennials want to move out… they are moving out! The National Association of Realtors (NAR) recently released their 2016 Profile of Home Buyers and Sellers in which they revealed that 61% of all first-time homebuyers were millennials in 2015!  

The median age of all first-time buyers in 2015 was 31 years old. 

Here is chart showing the breakdown by age:

Think All Millennials Live in Their Parent's Basement? Think Again! | MyKCM

Many social factors have contributed to millennials waiting to buy their first home. The latest Census resultsshow that the median age of Americans at the time of their first marriage has increased significantly over the last 60 years, from 23 for men & 20 for women in 1955, to 29 & 27, respectively, in 2015.

Those who went to college and took out student loans are finally paying them off, as the terms on traditional student loans are 10 years. This means that a large portion of the generation is making its last loan payments and is working toward saving for a first home.

As a whole, the first-time homebuyer share increased to 35% of all buyers, up from 32% in 2014. Not all millennials are first-time buyers, they also made up 12% of all repeat buyers!

Bottom Line

Millennials will continue to drive the housing market next year, as well as in the years to come. As more and more realize that owning a home is within their grasp, they will flock to own their piece of the American Dream. Are you ready to buy your first or even second home?


Angela Cotten Headshot
Author:
Phone: 817-470-0081
Dated: November 3rd 2016
Views: 997
About Angela: Results, Integrity, Attitude & Honesty. If superior representation with a caring touch is what you ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Moving Up to Your Dream Home? Don’t Wait! - Mortgage interest rates have risen
Selling Your House on Your Own Could Cost You - In this extremely hot real estate
Aledo ISD School Boundaries - Picking a home is never easy. ;
Avoid the Four Steps For Sale By Owners Make - The 4 Biggest Mistakes FSBO&rsquo

Our Bloggers

(Allen) Mehrdad Solhjoo - 4
Alan Oliver - 7
Alisa Simmons - 1
Amber Johnson Oputa - 11
Amy Jo Saenz - 3
Ana Cantu - 1
Andrea Trimble - 55
Angela Taylor - 1
Angela Cotten - 102
Ann Kessel - 3
Ann-Marie Pope - 2
Annette Bruen - 47
Ashley Lambert - 1
Audra Young - 1
Belinda Duff - 5
Beth Herr - 1
Beverly Bryant - 24
Bob Cardillo - 4
Brittany Duey - 1
Bryce Smith - 5
Candace Mozingo - 1
Candie Hernandez - 10
Cara Balderas - 73
Chad Gabriel - 58
Christina Gonzalez - 5
Christine Shannon - 30
Christine McGinnis - 1
Christopher Evans - 1
Chuck May - 1
Clint White - 2
Comprar Casa DFW * - 4
Dakota Joyner - 9
David Darty - 1
Debbie Zurita - 17
Debbie Viverito - 132
Diane Velez - 18
Drew Spears - 6
Edwin Liddie - 1
Erica Taylor - 54
Eunice Pettaway - 1
Eva Duffy - 8
Felicia Johnson - 79
Gary Hutchings - 20
Go 2 Girls Realty - 173
Greg Cunningham - 2
Gregory Cornett - 2
Heather Feragotti - 8
Holli Paddio - 3
Hunter Howard - 1
Jamie Brannagan - 2
Jason Todd - 24
Jemi Khan - 26
Jenna Stanley - 9
Jennifer Flynn - 9
Jennifer Boyd - 2
Jessica Boozer - 18
Jill Elliott - 99
Jimmy Hanks - 1
John Priestash - 60
Judy Tapscott - 2
Julian Taylor - 17
Julian Dozier - 4
Julie Nicholson - 10
Julie Cash - 2
Justin Blackburn - 1
Karla Terrell - 2
Kaysone Orlando - 1
Keisha York - 30
Kelley Stubbs - 3
Kelly Rumney - 9
Kevin Taylor - 16
Kristen Henderson - 16
Kristine Edens - 3
Laneal Ernest - 9
Larry Frassinelli - 6
Leah Ecob - 15
Leigh Klotz - 5
Linda Scardis - 4
Lisa Carroll - 3
Lisa Cardillo - 53
Lucina Cervantes - 11
Marcos Garza - 1
Maria Lopez-Jones - 1
Mark Mulch - 19
Mark Fischer - 2
Marla Johnson - 1
Martina Worley - 2
Mary Taylor - 15
Melisa Crooks - 1
Melodie Sulgrove - 1
Michael Chatman - 2
Michele Thompson - 6
Mimi Rader - 1
Missie Craig - 12
Moira Brunken - 18
Monica Solkhon - 1
Naddia Morales - 10
Nick Walton - 79
Nicole Espinosa - 27
Nikki Okpuzor - 3
Olivia Borowski - 1
Rachel Walsh - 2
Ramon Bermudez - 4
Rene Sinclair - 27
Rhonda Borgne - 1
Richard Mikus - 1
Rodrigo Sotomayor - 16
Rosalia Tejeda - 1
Roxann Hailey - 4
Sandy Setliff - 225
Sarah Uber - 5
Sarah Dieter - 9
Sean Moniri - 21
Seana Taylor - 217
Shalee Garza - 10
Shelby Smith - 3
Shelia Randolph - 33
Spring Weeks - 9
Stacy Lynn Massar - 27
Steve Murray - 1
Susan Florsch - 12
Tami Bennett - 45
Tammy Gill - 1
Teneka Ray - 1
The Doyle Team * - 5
Tim Stoll - 52
Timothy Taylor - 1
Timothy Gilliam - 2
Trenton Johnson - 15
William Hurd - 3
William Graves - 5
Wilma Goodwin - 2

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

JP And Associates REALTORS
6136 Frisco Sq Blvd, #200
Frisco, TX
972-375-9448
0