The threat of rising interest rates and higher home prices might not deter a pent-up market: first-time millennial homebuyers. Nearly two-thirds (65%) of adults ages 25 to 34 participating in a survey of Realtor.com visitors said they intend to buy a home within three months. That’s up from 54% of the site’s users responding to the same survey in January. Jonathan Smoke, Realtor.com chief economist, says it’s a healthy sign for the housing market overall. “This roughly translates to three-month demand for homes of approximately 1.2 million — significant but not out of line with historical levels of buying activity from this critical cohort,” Smoke tells NerdWallet.
Millennials Poised To Pounce On Housing Market, Poll Finds
Hal M. Bundrick, CFP, NerdWallet.com
Thu, 06/25/2015 - 1:30pm
Topics: january jonathan smoke this nar buyer profile they ve they re first-time for smitha ramchandani morristown jersey homebuyers flexibility how much house can i afford determining what why you need it millennials absolutely smoke hal bundrick image realtor this nerdwallet buy the ramchandani ramchandani poll housing market higher important homes significant survey list rising interest rates prices expect prioritize hurdles meets average lot high years work transportation payment clear live decision biggest finding
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