Affordability Challenges Keep Millennials on the Sidelines

Affordability is fading fast—and although millennials are eager to enter the market, and succeeding, they’re bearing the brunt of the challenge, according to recent research. Sixty-three percent of millennials under 29 are challenged by the cost of homeownership, according to a CoreLogic and RTi Research study. The expense, in fact, is their No. 1 reason […]

The post Affordability Challenges Keep Millennials on the Sidelines appeared first on RISMedia.

Down, but Not Out: Buyers See Some Success

Against discouragingly inadequate inventory and high prices, buyers are finding a way, according to a new survey. Fifty-one percent of homebuyers did not pay above asking price, despite concerns over multiple-offer scenarios, 42 percent made one or two offers, at most, and 34 percent were “unfazed” by the increases in prices and rates, according to […]

The post Down, but Not Out: Buyers See Some Success appeared first on RISMedia.

For millennials, it’s all about finding the right neighborhood ‘vibe’

Does the traditional tidy cape with the white picket fence on a tree-lined street still constitute the American homebuyer’s dream? Ally Homes surveyed consumers to find out.

The Biggest Homeownership Hurdles for Millennials

Millennials should be making a sizable stamp in homeownership, but they have been largely absent from the housing space. Why is it that the largest generation in U.S. history isn’t participating in real estate as heavily as its predecessors? There are many difficulties standing in their way, according to new research. A recent report by […]

The post The Biggest Homeownership Hurdles for Millennials appeared first on RISMedia.

Millennial Buyers Face a Tough Housing Market

(TNS)—Yvonne Jimenez Smith and her husband, Brandon Smith, spoke in whispers recently as they visited a white stucco house they planned to buy on a leafy street in San Jose, Calif. After six months of aggressive hunting, they were on their way to a small suburban home of their own after spending most of their […]

The post Millennial Buyers Face a Tough Housing Market appeared first on RISMedia.

Home-Buying Millennials Face Fresh Set of Struggles

Across ages, buyers are contending with a frenzied market—but for millennials, the challenges are different than in generations past, according to a new report by Trulia. An astounding 98 percent of home-buying millennials surveyed for the report are being kept out of the market, with barriers including credit (cited by 26 percent of millennials), a […]

The post Home-Buying Millennials Face Fresh Set of Struggles appeared first on RISMedia.

Closings for Millennials Speed Up

Closings for millennials are at their speediest yet: 39 days in March, according to Ellie Mae’s Millennial Tracker™, a measure of millennial mortgages. “With the ongoing adoption of digital mortgage solutions, millennial homebuyers were able to close purchase loans in 39 days in March—the shortest amount of time since Ellie Mae began tracking millennial loan […]

The post Closings for Millennials Speed Up appeared first on RISMedia.

What are millennials willing to give up for their ideal neighborhood?

In the face of historically low inventory levels, millennials, more than any other generation, are willing to make major compromises to live in the neighborhood or the home of their dreams.

5 Challenging Markets for Millennials

Across the country, buyers are competing in what has been called the “harshest market yet“—but for millennials, the competition is fiercest in higher-income metros, according to an analysis by realtor.com®: San Jose, Calif. List Price (Median): $1,244,000 Millennial Income: $109,800 Millennial Population: 14.3 percent Seattle, Wash. List Price (Median): $553,000 Millennial Income: $78,300 Millennial Population: […]

The post 5 Challenging Markets for Millennials appeared first on RISMedia.

Disenfranchised First-Timers: Solving the Need for Entry-Level Housing

This month’s National Association of REALTORS® (NAR) Power Broker Roundtable discusses the affordable housing shortage, and potential solutions. Moderator Christina Pappas, District Sales Manager, The Keyes Company, Miami, Fla.; Liaison for Large Firms & Industry Relations, NAR Panelists Bill Plattos, Executive Vice President, First Team Realty, Orange County, Calif.   Dan Forsman, President & CEO, […]

The post Disenfranchised First-Timers: Solving the Need for Entry-Level Housing appeared first on RISMedia.