Darnella Real Estate

Darnella Real Estate

For Exceptional Real Estate Services Call
925-207-8211
CA DRE Broker #01117484
Para Español Oprima Aqui
  • Home
  • About
  • Sellers
  • Buyers
  • Search For Properties
  • Real Estate Services
    • REO Services
  • Blog
  • HUDHomeStore.Gov
    • HUD Homes for Sale
  • Contact
  • San Jose
  • Morgan Hill
  • Gilroy
  • San Martin
  • Antioch
  • Brentwood
  • Pittsburg
  • Oakley
  • Concord
  • Pleasant Hill
  • Martinez
  • Livermore

More Millennials are becoming Homeowners

August 14, 2017 By Darnella Aulani, Real Estate Broker

Darnella-MIlli-Share
Recent headlines exclaimed the homeownership rate, as reported by the Census Bureau , rose again in the second quarter of 2017. What didn’t get much attention in the reports is that the homeownership rate for American households under the age of 35 increased a full percentage point from last quarter’s 34.3% to 35.3%. Millennials proved to have the highest increase of any age group.

This came as a surprise to some considering Millennials have come to be known as the “renter” generation. However, a new study by First American, 6 Trends Poised to Reshape Homeownership Demand , revealed reasons why homeownership numbers will continue to increase for Millennials.

Millennials are the most educated generation in the U.S.

Why does that matter? First American explains:

“Our model shows that, all other factors being equal, the likelihood of homeownership increases by 3 percent for those that earn a bachelor’s degree over those with a high school degree. The likelihood of homeownership jumps another 3 percent for those that earn a graduate degree.”

The more educated, the better the likelihood for homeownership. And, as we mentioned: Millennials are the most educated generation in the U.S.

Homes & marriage go together

Marriage is a key determinate in homeownership. According to an analysis by First American, the homeownership rate is 30% higher among married couples compared to non-married households.

Millennials have put off marriage in the pursuit of higher education. As this group ages, more and more will marry and purchase a home.

Parents buy houses

According to the study:

“The homeownership rate is 1.7% higher for households with one or two children compared to households with no children, and it is 5.4 percent higher for households with three or more children.”

The report goes on to say that as Millennials grow older there may be an increase in not just marriage but also in married couples with children. That will probably also create a “corresponding” increase in homeownership demand.

Wages and the economy

The study goes on to explain that recent gains in income growth and a strengthening economy will also help all generations (including Millennials) be more willing and able to purchase a new home.

Filed Under: Buyer Resources, Real Estate Blog

Darnella Aulani, Broker
Darnella Aulani, M.ED. , Director for Life
Broker #01117484
  • Contact
  • About

Certified Woman-Owned Business and Certified Minority Woman-Owned Business

nawrb

Find Your Dream Home

  • realtor
  • abr
  • gri
  • abrm
  • sres
  • crs-updated
  • areo
  • equal-housing
  • nwr
  • crb
  • pmn
  • cca
  • CBA_200

Contact & Location

Darnella Real Estate - San Jose
22 Great Oaks Blvd, Suite 200
San Jose, CA 95119
PH: (925) 207-8211
CA DRE Broker #01117484

Darnella Real Estate - Antioch
3731 Sunset Lane, Suite 207
Antioch, CA 94509
Ph: (925) 777-1770
Fax: 925-848-2030
CA DRE Broker #01117484

Client Tools & Access

  • Client Login
  • Create an Account
  • Sign Up for Email Updates
  • Mortgage Calculator
  • Darnella Real Estate Blog

Real Estate Search Tools

  • Basic Property Search
  • Advanced Property Search
  • Property Address Search
  • Property Map Search
  • Rental Search

HUD Homes Information

  • HUD Homes for Sale

Certified Women-Owned Business
Certified Minority Woman Owned Business

nawrb

Copyright © 2023 · Darnella Real Estate · All Rights Reserved · Site By Clifton Creative Web