“Millennials” is a term that gets thrown around constantly by society, economists, and quite honestly anyone who is selling a product that they want to introduce to the “Millennial Market”. So what does the term “Millennial” mean? Sociologists label Millennials as anyone born between the years of the Mid 1980’s to the Mid 1990’s. This generation comes after that of Generation X and is made up of Tech Savy Individuals that are always plugged-in, sharing, Tweeting, and Hashtagging. As Millennials reach the crucial age group of 20-30 years old, they are at the point where buying a home is the next logical choice for them. In the state of Texas the “Millennial Housing Boom” is about to happen according to the numbers. Studies conducted by Realtor.com show that Texas has a slightly high percentage of first-time homebuyer’s when compared to the rest of the country. Many of these tech-savvy buyers living in apartments are leaving them at joining the homeowner’s life. One of the main problems facing Millennials is the ever increasing rent rate making it difficult for them to save up money for a down payment to actually purchase a home. Millennials are the next generation to buy a home and are the future of the nation in the eyes of many.
Millennials Leaving their Stamp on the Housing Market!
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