It’s #MarketMonday once again! This week we reflect on the housing market’s progression and how it’s shining in home builders’ eyes. We also contribute to the popular topic of Seattle rent prices. Due to incoming businesses in the area, rent is rising significantly, causing people to consider other options. Finally, we heavily highlight how the largest target market, known as millennials, continue to affect real estate. How millennials are contributing is an important topic because they are playing a huge factor in all the market’s changes; home buyers and sellers can learn from this generation’s role in the housing market.
My team is happy to answer any questions about the current real estate market or to discuss what is most important to you whether you are looking to buy, sell or invest in today’s market.
Current sales and buyer traffic is up right now, making home builders confident about the housing market. This article goes more in-depth on what home builders are struggling with and the current housing market progression.
Many companies are moving their long-term office spaces to the Seattle area. Due to this, there is a high demand for downtown Seattle and Bellevue apartments. Landlords have taken advantage of this by significantly increasing rent prices for new leases and renewals.
Millennials, those between 25-34 years old, have a reputation to not want to settle down and buy a home. Fact is, they make up 68% of first-time home buyers and 32% of overall home buyers, which is among the largest portion. This is a great article on millennials in the housing market and what all home buyers can learn from them.
This article highlights why young adults and the millennial generation are waiting so long to buy homes. Much of it has to do with high rent prices and not being able to afford a down payment on a home. It also highlights how these generations are interested in home buying, but they want a more stable career first. Very interesting read on how the largest generation is affecting the market through different factors.