More Millennials Choosing To Buy Over Rent

More Millennials Choosing To Buy Over Rent

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With affordability challenges in Orange County, there's a question that continues to arise: are Millennials going to continue renting? For the first time, the answer to this question is beginning to shift. As rent prices continue to escalate and more Millennials have buying potential with the currently low rates, we're seeing more of them choose to buy over rent

In Q3 of 2017, national homeownership rates reached its highest level since 2014 and, of those, buyers under 35 increased for the third month in a row to 35.6 percent. Sales are up 18.7 percent year-over-year and prices are up 5.5 percent year-over-year. 

It's safe to say, with rates significantly low, rents continuing to rise, and the potential of tax deduction changes in the new year, we're expecting to see a growing number of Millennials buying by the end of 2017.

Liz Peters Headshot
Phone: 949-683-5374
Dated: December 12th 2017
Views: 138
About Liz: An Orange County native and Team Manager of The Kurt Real Estate Group with a heavy background in bo...

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