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386 315 4744
James@JamesJestes.com

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Millennials Are Increasing the Demand for Condominiums

Millennials Are Increasing the Demand for Condominiums | Simplifying The Market

When deciding to buy a home, people are presented with many different options. The type of home you buy depends on your needs, budget, and in many cases, the desired maintenance level. For many millennials, their choice has been buying a condominium!

According to CoreLogic,

“Last year about 43% of all condo home-purchase mortgage applications were submitted by FTHBs… Similarly, the data show condos were more popular with young homebuyers and empty nesters. For instance, 21% of all condo home-purchase mortgage applications were submitted by buyers aged 18 to 30, compared with just 17% of all single-family home-purchase mortgage applications by the same group in 2018.”

With home prices increasing year-over-year, it makes sense millennials are buying condos instead of a single-family house. As a result, the

demand for this type of home has been increasing.Millennials Are Increasing the Demand for Condominiums | Simplifying The MarketAs this graph explains,

“The younger millennials are the largest cohort and are likely to drive much of the condo demand in the coming years”.

Beachside Condos For Millennials in Daytona Beach FL

Bottom Line

If you are a millennial considering buying a home, understand that there are many options available. You may find yourself in a condominium as your first home. If you would like to determine which type of home best fits your needs, let’s get together to evaluate your options!

GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

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Related posts:

  1. Do 46 Million Millennials Know They Are Mortgage Ready?
  2. Buyer Demand Surging as Spring Market Begins
  3. Millionaire to Millennials: The Costly Mistake of Not Buying Now
  4. Home Buyer Demand Will Be Strong for Years to Come

Posted in: Blog, Buying Myths, Demographics, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Millennials, Move-Up Buyers, Rent vs. Buy

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

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Today’s Real Estate Information

  • 10 Great Homes For Sale In The Greater Daytona Beach Area
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  • Don’t Miss Out on the Growing Number of Down Payment Assistance Programs
  • What’s Behind Today’s Mortgage Rate Volatility?
  • Is Wall Street Really Buying All the Homes?

James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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