According to COGNITION Smart Data, Green Builder Media’s market intelligence and data service, millennials are feeling bullish about buying homes, identifying homeownership with economic security and a desirable lifestyle Spurred by a growing desire for financial independence, the millennial generation recognizes the value of investing in an appreciable asset that can create long-term financial wealth and stability.
Millennials are jumping into the market in record numbers. They represent approximately 40 percent of all home buyers and are taking advantage of sub-3% interest rates and government incentives
Fortunately, the numbers are penciling out in favor of homeownership in the United States: The median monthly cost for a rental is $1,657. Given that the national median mortgage is $299,000, it’s approximately $300 less per month to own a home than to rent.
For more information about Millennials and other audience segments, sign up for a COGNITION subscription.
About COGNITION Smart Data:
COGNITION Smart Data offers advanced intelligence and insights about market trends and important customer information like behavioral patterns, purchase drivers, buying preferences and sentiment. COGNITION enables clients to make informed business decisions, yielding specific deliverables and tangible results. COGNITION provides a definitive competitive advantage by allowing companies to stay a step ahead of their competitors.
For more information on how you can tap into the power of COGNITION Smart Data, visit www.greenbuildermedia.com/cognition or contact Sara Gutterman at sara.gutterman@greenbuildermedia.com.