Millennials and the influence they have on the Market

    I recently read and article from the article wasEconomist Predicts Millennials Will Greatly Increase Presence in Home Market in 2015″ by Tony Barringer. Fantastic article and we wanted some insight from our own Real Estate Guru/Educator/Vice President  of RE/MAX Classic Bart Patterson on this topic.


    Here is his quick synopsis on that particular article;


    “I think Zillow‘s chief Economist did a pretty good job talking about the Millennials and their potential buying trends for 2015. I also feel that we will see the trend increase towards the purchase as they experience increased rental rates, it only makes sense to own and grow the investment even at a minimal rate. While he mentions less expensive being important I do think he is forgetting that they also come from a perspective now that having the 3000+ square foot house is not of interest, the millennial generation is a much more mobile group, they are not going to be a family of 6, and they are far more eco-friendly than any of the other generational profiles. As the buyer market reemerges from its long hiatus this will help the Millennial’s step into the market, again they didn’t want to play with competing offers and the stress of the Sellers market, low inventory and difficult mortgage processes. It will be exciting to see the new Millennial group take it’s first steps towards home ownership.”

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    Licensed Realtor since 1984 and Licensed Broker since 1989. It's always been my goal to own and operate the best brokerage in the industry with the finest trained group of realtors. Making a difference in our communities is what it's all about. Bringing families home builds stronger communities and benefits us all. I welcome the challenges of the industry and our current market and continue to strive to meet the needs and goals of my realtors to build their success. We couldn't be RE/MAX Classic without them.

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