Housing Market Heats Up with Young Buyers

The landscape of the housing market may be set to change as the newest generation of young adults are entering the home buying scene. This generation is unlike many others before it which means the way that it will affect the housing market may be unique. Overall, however, the real estate market is likely to see a price increase as demand increases for houses and inventory shrinks. The real estate market may see even more of a boom if the immigration reforms pan out and young immigrants become naturalized and begin buying houses as well.

This new generation of home buyers has been found to be more frugal and to stray away from the expensive homes of prior generations. This means that the inventory for three bedroom and even two bedroom homes may become more desirable. This generation is also expected to stay away from major metropolitan areas that have increased drastically in price and that were hit hard by the market crash, which means that desirable but less expensive areas close to major metropolitan cities will likely see an increase in demand and the prices on major metropolitan areas might even out.

For more information about the effect of young adults on the housing market contact Cary Amo, a real estate expert.

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