How millennial are changing the housing market
Visiting the we buy houses San Bernardino will show you the scenario of how the millennial are on top of the things as far as the housing market is concerned. Over the past decade, the economic recovery has been great for most Americans, and one of the effects that this has is a surge on home buying among the millennial.
Those who are in their late 20s and in their early 30s tend to lead the charge, with rates of homeownership among the groups going up to four times higher as compared to other age groups during the period of 2014-2016.
With the older millennial having time to grow in their respective jobs and pay for the student loan debt, there is an influx of the home buyers in the millennial. For younger millennial, there mostly rent as there are beginning in their careers but there is a generational shift happening when it comes to home buying.
You should see more disruption in the next five years with the acceleration in the millennial home buying. With the millennial entering the house buying market in big numbers, they seem to be approaching it as much as different ways as compared to the previous generations when it comes to home buyers.
House hunting that is tech oriented
Millennial are known to be dedicated to the devices which they own and for such demographic group, technology plays an important role in home buying. As per the NAR – national association of realtors, a full 99% of the millennial search online in getting information which is general purpose about the home buying and a housing market.
The millennial also are most like to utilize their mobile devices during a search as compared to the baby boomers who are older with about 58% of the millennial finding the place where they would wish to buy through their tablet or smartphone. As per the NAR, that affects directly the way the brokers and the real estate agents approach their role in the process of buying.
The advances in digital marketing have transformed the way real estate is being done. Two decades ago, real estate agents were greatly valued for the information which they had. But nowadays, the true value of a real estate agent happen to be via the relationships they have with other brokers, their negotiation skills, and the ability which they have for having to keep up with the times with the marketing processes and strategies.
Communicating with the realtors
The millennial also tend to differ from the other generations in the form of how they use the tech in communicating with the realtors. They tend to prefer most of the communication to be through texting. The use of text messages in expressing interest in the available property, scheduling appointments, and asking questions while having calls is reserved only for pressing or more urgent concerns. The texting is a representation of the immediate back and forth line of communication.