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Why Millennials Are Poised To Be The Next Wave Of Single...

Because real estate investments provide housing to another person or family in need, they fit well with the types of investments millennials are drawn to. While it may be a surprise given the stereotypes surrounding the millennial generation, research from the National Association of Realtors found that millennials continue to be the largest group of homebuyers, representing 65% of all first-time homebuyers last year. Also encouraging, 54% of millennials are interested in investing in real estate outside of their primary residence, significantly higher than the 55+ demographic. Savvy millennials with the desire to invest in real estate without sacrificing their own city living may choose to buy in outside geographies like Dallas or Philadelphia, where home prices are more affordable and anticipated returns are higher, while they continue renting in their desired locations. Lenders and real estate agents are starting to see a shift in strategy as well. Savvy real estate firms are now going after the referral from the lender. A prime example of this is Loan Depot's Mello Home and Quicken Loans's In-House Realty Service, which connect pre-approved homebuyers with verified real estate agents in their local market. Other online platforms such as Roofstock, Own America and HomeUnion have entered the market, delocalizing real estate investing by making it easy for investors to transact in top-performing rental markets across the country, regardless of their own geography. Meaningful opportunities are available to both millennial investors and the service providers in the space. In continuing to make investing easier and more accessible, all parties can benefit.