Younger Generation Predicted to Turn Real Estate Market around
Since the slump in the real estate market started everyone has wondered where and when relief would be found. There is a new group of people that are drawing confidence in the housing recovery. A new study was released in March by the National Association of Home Builders states that, “Generation X –young families and adults ages 31 to 45 – are likely to lead the home buying recovery as it gets underway”. Gen X as they are referred to makes up 32% of the home-buying age population. They are not the largest group (Baby boomers make up 41%) but they are the most mobile. They are fully engrossed in careers and need to expand to accommodate larger families. When surveying 10,000 potential buyers in 27 metro areas, between 85-89% said now is a good time to buy! What does this Generation of home buyers want? More space! Most are growing in careers and families and want a bigger home than they currently live. In addition to space inside they want more space on their property. Although ...