A recent Bloomberg article shared that millennials are quickly becoming a dominant force in high-end real estate!
Tech-savvy and environmentally conscious millennial preferences are poised to dramatically reshape the high-end housing market.
Millennials—adults born from 1981 to 1996—represent the largest share of homebuyers in the U.S. at 38 percent, according to a survey by the National Association of Realtors released last year.
One of the main reasons millennials are coming out big in the market is because they've waited longer to purchase homes than previous generations of homebuyers.
The article states, “Millennials are finally coming out of the gate, and it’s not uncommon for the first purchase as a first time homebuyer to be a multimillion-dollar luxury home in the U.S. or internationally.”
Check out the full article here.