Things Looking Up for New Home Buyers

Posted by Steph Kaye on Friday, July 26th, 2013 at 12:00am.

There is a new generation of home buyers out there, and they are looking for specific things in their search for a house. The innagural 2013 National Association of Realtors Home Buyer and Seller Generational Trends survey has found even more information on this group of up and coming purchasers.

Image credit: rido / 123RF Stock Photo
  • The survey found that 85% of buyers under tha age of 32 feel that their home is a good investment. 
  • The largest group of buyers (31%) was born between 1965 and 1979, and the next largest group (28%) was born between 1980 and 2000. 
  • According to our source, "The median age of Millennial home buyers was 28, their median income was $66,200 and they typically bought a 1,700-square-foot home costing $165,000." 
  • And, where did this home buyers come from? 22% lived with their parents. 
  • Upon moving out, they are looking for older homes with charm rather than the newer subdivision homes. 
  • These millenial buyers are flexible about what they are buying, whether it be size, price or features. 
So, if you are looking to sell your home to buyers in these new generations, check out our guide to make sure your home is on their radar.
 

Lang Premier Properties is home to a leading Oakland County Short Sale Realtor. We specialize in all aspects of real estate including short sales, foreclosures and working with home buyers and sellers in the Troy, Birmingham, Rochester Hills and Bloomfield Hills luxury market. When you hire Lang Premier Properties, whether you are purchasing or selling Metro Detroit Real Estate, you can rest assured that you are in good hands.

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