Housing Market Recovery Hinges on Young Home Buyers
Generation X –young families and adults ages 31 to 45 – are likely to lead the home buying recovery as it gets underway, according to real estate experts who spoke at an educational webinar produced by the National Association of Home Builders (NAHB) in partnership with Builder magazine
These potential home buyers are most likely to think it’s a good time to get off the fence – and have strong opinions about the design features their new homes will include.
At 32 percent of the population of home-buying age – generally defined as those who are at least 30 years old, the Gen X population cohort isn’t the largest, but it’s the most mobile, said presenter Mollie Carmichael, principal of John Burns Real Estate Consulting in Irvine, Calif. “They are in full force with their careers and they need to accommodate growing families,” she said.
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