Two articles were published last week about millennials—one stating that the economy has caused them to be late starters into buying their first home and the other saying that more millennials than ever are buying homes over a million dollars.
It seems unlikely that both could be possible until you dig into the numbers. The size of Generation Y is big enough to cover both ends of the spectrum so those with hefty student loans holding them back are making just as much of an impact on the market as the ones who have parents helping them with the down payment.
While one of these articles did quote local DC agent Michael Rankin of TTR/Sotheby’s, neither one focused too much on specific markets. We want to hear from those of you at the frontlines of our local real estate landscape. Are you seeing more millennials buying pricey real estate, or do you find they’re still hesitant to take the first step on to the property ladder?
Let us know how things look from your perspective in the comments.