Main Content

MILLENNIALS SET TO BREAK HOME OWNERSHIP RECORDS IN 2019!

With the market stabilized as we push into the first quarter of 2019 analysts have already begun evaluating the influence Millennial’s will have in real estate. According to the Census Bureau Millennial’s are the second largest generation since the Baby Boomers.

In fact, Millenial’s are growing the markets by leaps and bounds in 10 major USA cities. Experts project that in 2019 Millennial’s are expected to make up more than 49% of new mortgage market. Here are the projected top 10 “hottest” markets for 2019.

HOTTEST MARKETS IN 2019

1. Lakeland, Florida

Percentage of millennial mortgage takers: 32%

2. Grand Rapids, Michigan

Percentage of millennial mortgage takers: 48.8%

3. El Paso, Texas

Percentage of millennial mortgage takers: 45.7%

4. Chattanooga, Tennessee

Percentage of millennial mortgage takers: 43.9%

5. Phoenix, Arizona

Percentage of millennial mortgage takers: 31.9%

6. Bridgeport, Connecticut

Percentage of millennial mortgage takers: 33.8%

7. Las Vegas, Nevada

Percentage of millennial mortgage takers: 30%

8. Boise City, Idaho

Percentage of millennial mortgage takers: 32.4%

9. Miami, Florida

Percentage of millennial mortgage takers: 29.9%

10. Boston, Massachusetts

Percentage of millennial mortgage takers: 41.8%

LAS VEGAS is expected to top the list by the end 2019 with a record number of mortgage applications from Millennials. One reason Vegas is expected to reach the top of the list is the vast job growth in the state. Las Vegas is now attracting industries like tech, medical, professional sports, and construction just to name a few. Topping the short list of reasons many people find themselves relocating to Vegas is affordability such as low cost of living, low taxes (no state income tax), low sales tax, and affordable housing. The dream of becoming a homeowner for all generations is alive and well!