AgentMLS & Associations

NAR survey: Active military homebuyers purchase at younger ages

Veterans Affairs Loans and use of agents make the difference
  • The National Association of Realtors released its first-ever "Veterans & Active Military Home Buyers and Sellers Profile."
  • The study revealed that active military homebuyers purchase at younger ages (34), buy larger (2,000 plus square-feet) and more expensive homes ($226,000) than non-military buyers.
  • Some of the determining factors include access to Veterans Affairs loans and a higher usage of real estate agents.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

There have been a slew of reports that outline the struggles millennials face as they attempt to step into the world of homeownership. Some choose to become renters while others move back in with their parents in order to maintain a level of financial stability. But according to a new study by the National Association of Realtors (NAR), there is one demographic of millennials that are bucking the trend -- active military members. In the first-ever "Veterans & Active Military Home Buyers and Sellers Profile," NAR found that while nearly all veteran and non-military homebuyers and homesellers use an agent, usage among active military members is "universal." In addition to their high reliance on agents to get them through the home buying and selling process, active military members buy bigger homes at an earlier age. The average active military homebuyer bought their first home at 34, six years earlier than non-military homebuyers. Moreover, 51 percent of active mi...