When it comes to bucking a trend and breaking a pattern, no group is as mysterious as the Millennial generation. Once dubbed “The Me, Me, Me” generation, Millennials march to the beat of their own drums, both as a result of collective personality as well as simple circumstance.
For decades before the Millennials emerged as grown-ups, young adults were predictable: they entered the workforce, saved their earnings for a few years and bought a home. But the late-aughts – specifically the recession – demolished that dynamic. Today, more people younger than age 35 are either renting or living at home than in the past.
As the economy increases its stability, Millennials are showing early signs of interest in buying homes. For agents looking to broaden their buyer base, that is good news, but agents should know that Millennials are a demanding group, which may require agents to adjust accordingly.