Contrary to the popular belief of new home builders in Springfield, MO, millennials were the largest group of homebuyers in 2017. They made up 34% of the buying pool, with 66% being first-time homebuyers.
Which indicates that not only are they buying, slightly less than half of millennials are actually buying their second or third home.
The Census Bureau recently released the following statement regarding homeownership, “Contrary to some analysts’ predictions that the rate would fall to 61% or lower in the coming years, the new [Census Bureau] estimates indicate it increased to 64.2% in 2017,” said NAHB Chief Economist Robert Dietz. “The data also showed six consecutive quarters of gains in the count of home owners, with notable growth among those under the age of 35.”
It’s evident by the growth that millennials are definitely recognizing the value and benefits of investing in a home.
How Does This Affect New Home Builders Springfield, MO?
It’s important that new home builders Springfield, MO to stay on top of the trends that keep millennials in mind.
Millennials rely on technology. They are used to having answers to all the questions they’re asking within seconds, and within a few finger taps. Millennials also are known to rely on customer reviews more than any other generation and they take the research phase very seriously.
New home builders in Springfield, MO shouldn’t be intimidated by this information, as being tech savvy doesn’t mean most millennials aren’t still seeking professional help in their home searches. When compared to baby boomers, Gen-X, and the silent generation, millennials are the top group purchasing homes from realtors.
Finding a New Home Builder Springfield MO
We’re confident that any millennial looking for a new home builder in Springfield, MO will be perfectly happy with Hawthorne Creek Homes! We provide help understanding the purchasing and building process, from start to finish. We also know that no information is more valuable than personal experience, which is why we let our customer’s tell our story for us.