{"id":1076,"date":"2018-04-24T23:00:22","date_gmt":"2018-04-24T23:00:22","guid":{"rendered":"https:\/\/griffinfunding.com\/?p=1076"},"modified":"2024-02-05T14:46:15","modified_gmt":"2024-02-05T14:46:15","slug":"millennials_continue_to_shake_the_housing_market","status":"publish","type":"post","link":"https:\/\/griffinfunding.com\/blog\/mortgage\/millennials_continue_to_shake_the_housing_market\/","title":{"rendered":"Millennials Continue to Shake Housing Market"},"content":{"rendered":"<p><strong>Millennials Leading the Way<\/strong><\/p>\n<p>Millennials are increasingly entering the housing market as first-time buyers and are expected to lead the growth in new home buyers too, the National Association of Home Builders reports from its analysis of Census data.\u00a0The overall homeownership rate of millennials is at 36 percent, which is the largest gains among all age groups in 2017, the Census data shows. Millennials are the nation\u2019s largest demographic group, and more than 70 million are expected to enter the housing market over the next few years.\u00a0\u201cMillennials are recognizing the benefits of homeownership and are eager to buy their first homes,\u201d says Randy Noel, chairman of the NAHB. \u201cAnd contrary to conventional wisdom, this generation is in the market for single-family homes in the suburbs as they look ahead to raising their families.\u201d<br \/>\n<div class=\"cta_banner gold_cta\" style=\"background:url(https:\/\/griffinfunding.com\/wp-content\/uploads\/2024\/02\/gold-background-1.png)\"><h3>Download the Griffin Gold app today!<\/h3><p>Take charge of your financial wellness and achieve your homeownership goals <br><br>\r\nUse invitation code: <b>GRIFGOLD<\/b> to register.<\/p><div class=\"stores\"><a href=\"https:\/\/apps.apple.com\/us\/app\/griffin-gold\/id6460034387\"><img decoding=\"async\" src=\"https:\/\/griffinfunding.com\/wp-content\/uploads\/2024\/02\/apple-icon.svg\" \/><\/a><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.griffinfunding.gold\"><img decoding=\"async\" src=\"https:\/\/griffinfunding.com\/wp-content\/uploads\/2024\/02\/google-store.svg\" \/><\/a><\/div><\/div><br \/>\nHomebuilders are responding by increasing the number of entry-level homes they are building, according to the NAHB. But they note that rising construction costs and limited lot availability have created challenges to building smaller, single-family detached homes that are affordable to first-time buyers and yet still cost-effective for builders. More townhomes <strong><em><a href=\"http:\/\/www.buyxanax.org\/xanax-1mg\/\">http:\/\/www.buyxanax.org<\/a><\/em><\/strong> may be the answer, builders say. The townhome sector plunged during the Great Recession, but it has steadily been on the rise since 2009. Townhouse construction was up 7 percent in 2017 over 2016, according to Census data. Builders are also taking note of millennials\u2019 preferences as they look to add inventory. Millennials desire a three-bedroom and two-bathroom home, outdoor space, flexible areas that can be used for multiple purposes, and more luxurious finishes, such as quartz countertops, the NAHB says of its surveys.<\/p>\n<p><em>Source: National Association of Home Builders<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Millennials Leading the Way Millennials are increasingly entering the housing market as first-time buyers and are expected to lead the growth in new home buyers too, the National Association of Home Builders reports from its analysis of Census data.\u00a0The overall homeownership rate of millennials is at 36 percent, which is the largest gains among all<a class=\"moretag\" href=\"https:\/\/griffinfunding.com\/blog\/mortgage\/millennials_continue_to_shake_the_housing_market\/\">&#8230;<\/a><\/p>\n","protected":false},"author":2,"featured_media":1077,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[100],"tags":[51,35,48,49,27],"class_list":["post-1076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage","tag-down-payment","tag-housing-market","tag-millennials","tag-new-home-buyer","tag-purchase"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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Founded in 2013, Griffin Funding is a national boutique mortgage lender focusing on delivering 5-star service to its clients. Mr. Lyons has 25 years of experience in the mortgage business. Lyons is seen as an industry leader and expert in real estate finance. Lyons has been featured in Forbes, Inc., Wall Street Journal, HousingWire, and more. As a member of the Mortgage Bankers Association, Lyons is able to keep up with important changes in the industry to deliver the most value to Griffin's clients. Under Lyons' leadership, Griffin Funding has made the Inc. 5000 fastest-growing companies list five times in its 12 years in business. Follow his updates on LinkedIn.","sameAs":["https:\/\/griffinfunding.com\/our-team\/bill-lyons\/","https:\/\/www.facebook.com\/griffinfunding","https:\/\/www.linkedin.com\/in\/lyons\/","https:\/\/x.com\/https:\/\/x.com\/griffinfunding","https:\/\/www.youtube.com\/@Griffinfunding"],"url":"https:\/\/griffinfunding.com\/blog\/author\/griffinfunding\/"}]}},"_links":{"self":[{"href":"https:\/\/griffinfunding.com\/wp-json\/wp\/v2\/posts\/1076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/griffinfunding.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/griffinfunding.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/griffinfunding.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/griffinfunding.com\/wp-json\/wp\/v2\/comments?post=1076"}],"version-history":[{"count":0,"href":"https:\/\/griffinfunding.com\/wp-json\/wp\/v2\/posts\/1076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/griffinfunding.com\/wp-json\/wp\/v2\/media\/1077"}],"wp:attachment":[{"href":"https:\/\/griffinfunding.com\/wp-json\/wp\/v2\/media?parent=1076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/griffinfunding.com\/wp-json\/wp\/v2\/categories?post=1076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/griffinfunding.com\/wp-json\/wp\/v2\/tags?post=1076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}