AgentBrokerage

Millennial buyers moving to suburbs: NAR 2016 trends survey

Buyers still searching online, reporting satisfaction with agents
  • More millennials (defined as buyers and sellers age 35 and younger) are purchasing homes outside of urban areas.
  • Despite the common refrain of millennial debt, these buyers don't have the biggest student debt balances.

Celebrate your Tribe at Indie Broker Summit
Save $50 when you register using code: INDIEWEEK

All year when you see or hear a news outlet citing a homebuyer or homeseller statistic, odds are that it came from the annual National Association of Realtors' "Home Buyer And Seller Generational Trends" report. The 2016 report was released this morning and shows that more millennials (defined as buyers and sellers age 35 and younger) are purchasing homes outside of urban areas, and that despite the common refrainĀ of millennial debt, these buyers don't have the biggest student debt balances. Once again -- for the third year in a row -- millennials comprised the largest number of recent homebuyers. Here's the approximate breakdown of respondents (due to rounding, numbers add up to more than 100 percent): Millennials: 35 percent Generation X: 26 percent Baby boomers: 31 percent Silent generation: 9 percent Millennials moving home to the suburbs Younger buyers seem to be shifting from seeking homes in urban city centers to the more sedate suburbs. The share of mil...