• Home
  • Blog
  • Articles
  • Main Line Homes for Sale – Could the Millennial Housing Slump Be Turning Around?

Main Line Homes for Sale – Could the Millennial Housing Slump Be Turning Around?

Main Line Homes For Sale - Millennial businessmen walking One continual topic of discussion in the housing industry for the last several years has been the problem of home-buying among the youngest generation of adults. Or, rather, the lack of home-buying. Home sales to those under thirty have been anemic, and a matter of some concern to both Realtors® and home-builders.

However, we are now seeing signs that the slow real estate situation may be changing. Our own experience with Main Line homes for sale, as well as national statistics, suggests that Millennials may finally be entering the housing market in larger numbers.

The Stay-At-Home Generation

Home sales to Millennials have been lower than to any other generation in nearly a hundred years. For the first time since the Great Depression, young adults have been more likely to be living with their family than with a spouse or significant other.

Part of the trend is tied to lower rates of marriage among young adults. In the 1960s, the average age of marriage was in the low 20s, with 10% of people over 25 never marrying. Today, the average age of marriage is nearly 30, with projections suggesting that up to 25% of the current generation may never marry.

Unmarried people may feel less need to move out of their parents’ homes. Other arguments regarding the housing issue point to the inability of wages to keep up with the rate of inflation, or with the rising costs of homes in most of the metro areas that have the best jobs.  The combined mentioned factors -and more- haveencouraged younger people to rent, rather than buy.

Whatever the reason, sales of starter homes have been below averagefor the last several years. Last year, Builder Online went so far as to declare starter homes “nearly extinct.”  Yet, things may be turning around.

A New Millennial Home-Buying Paradigm?Millennial Young Woman Main Line Homes for Sale

In just a single year, Builder Online now reports a much larger number of starter homes being built, with builders surveyed reporting a 50% uptick in new starter home orders. Here at Sage Realty, we have also seen more Main Line homes for sale going to younger buyers.

The aging nature of the Millennial population may largely be responsible for the new change in sales. As Millennials move into their thirties and earn better wages, they finally have enough of a stable financial situation to make a larger home investment.  In addition, when ready to buy, they are choosing homes outside of big cities that give them more space.

Call Sage Realty for Main Line Homes for Sale

Whatever the reason, 2017 could be a good year for Main Line homes for sale to younger buyers. Should these trends continue, the housing market could benefit substantially.

For more information about real estate trends and Main Line homes for sale, please contact the team at Sage Realty today!

Tags:

Featured Testimonial

I moved to PA from Washington State and learned that realty is local. There were things that I thought I knew about buying a house previously but boy was I wrong. Linda was very patient with me but also did not hold back when she saw potential problems, and always made sure I had all the information I needed before making a decision and didn’t belittle concerns to just get a sale. Above all else, and this was the most important thing to me, Linda has a high ethical standard, is very transparent in her approach and is someone I trusted making one of the biggest decisions of my life. – A. Lindsay (Courtesy of Google)

 

Hear From Our Clients

  • "We were so pleased that a co-worker recommended someone in the area that she trusted. Boy, did we strike gold on all counts. You are amazing!"
  • "Instead of trying to take advantage of conflicts of interest, she puts the client's interests first."
  • "Linda is a hardworking, proactive and knowledgeable realtor. Throughout the process of finding and buying our new home, she was always responsive and kept us up to date on every detail."
  • "Linda and the group at Sage are the right fit. You won’t find more knowledgeable, prepared and professional agents."
  • "Linda and Tracey really know the Main Line area."
  • "Throughout the entire process we never doubted that she always had our best interests in mind. We wouldn’t consider anyone else when buying a home on the Main Line."
  • "From start to finish, Linda brought to bear a most helpful combination of experience, knowledge, attention and integrity on a somewhat complicated transaction. There was never any doubt that she represented our interests."
  • "Her knowledge of the area helped us quickly narrow our search and ultimately scored us an amazing home in an incredible neighborhood."
  • "It is hard to trust when you are not sure of the rules of the game. Working with Linda made us feel like we were family. Linda took her time to relay and explain everything in detail."
  • "Linda’s honesty and real estate savviness made for a wonderful home buying experience!"

Read more about what our clients have to say

Hear from our Clients

  • "We were so pleased that a co-worker recommended someone in the area that she trusted. Boy, did we strike gold on all counts. You are amazing!"
  • "Instead of trying to take advantage of conflicts of interest, she puts the client's interests first."
  • "Linda is a hardworking, proactive and knowledgeable realtor. Throughout the process of finding and buying our new home, she was always responsive and kept us up to date on every detail."
  • "Linda and the group at Sage are the right fit. You won’t find more knowledgeable, prepared and professional agents."
  • "Linda and Tracey really know the Main Line area."
  • "Throughout the entire process we never doubted that she always had our best interests in mind. We wouldn’t consider anyone else when buying a home on the Main Line."
  • "From start to finish, Linda brought to bear a most helpful combination of experience, knowledge, attention and integrity on a somewhat complicated transaction. There was never any doubt that she represented our interests."
  • "Her knowledge of the area helped us quickly narrow our search and ultimately scored us an amazing home in an incredible neighborhood."
  • "It is hard to trust when you are not sure of the rules of the game. Working with Linda made us feel like we were family. Linda took her time to relay and explain everything in detail."
  • "Linda’s honesty and real estate savviness made for a wonderful home buying experience!"

Read more about what our clients have to say

Sage Buyer Tips

Use Sage Buyer Tips to research the Main Line and stay up to date on real estate news. This online destination is chock full of resources for buyers and sellers: you can see our Main Line communities or explore Sage favorite places. Browse properties here and search other Main Line real estate. With Sage’s advice and experience, first-time buyers and those looking to upgrade can find homes best suited to their needs.