How Millennials are Reshaping the Luxury Home Market – RealtyBizNews: Real Estate News

Almost one in five homebuyers last year said they compromised on the condition of the home they ultimately purchased. "The homes left on the market are the ones that have a few more hiccups," says.

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The market-rate building brings “condo-level” finishes in its units to downtown Minneapolis, said Nick Murnane, the company’s director of real estate. luxury apartment building Opus completed one.

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Both Millennials and Gen Z-ers are looking for smaller and more affordable homes as close to the hustle and bustle of downtown as possible. And with both seniors and younger generations looking for homes in the bigger cities, the pressure on the condo market increases, putting the spotlight on a sector already receiving a lot of attention.

ablokhin/Getty Images Home construction across the United States is slowing down-and the timing couldn’t be worse. The country is already at its lowest point in a decade for housing affordability, due largely to the shortage of homes on the market.In February this year, according to U.S. Census Bureau data, 9.9% fewer homes than a year ago had been started but not yet completed.

Browse through the windermere prestige properties blog archive, covering various topics relating to the local luxury property market. Whether it’s on new home trends to look out for, home buying or selling tips, or just items that are unique to the local market, we have an article that is sure to catch your attention.

Don’t Be Afraid to Buy a Home Again After a Foreclosure or Short Sale! Popular Loan Programs Available For Buying After a Hardship. Lenders are creating programs available to people who have went through a short sale, foreclosure or other hardship – because they realize that millions of people are going to want to buy again after losing their home or having a hardship.

The average millennial desires a three-bedroom, two-bathroom home with plenty of outdoor space, flexible multipurpose spaces and luxury finishes such as quartz countertops. The post More home builders are targeting millennials appeared first on realtybiznews: real estate news .

Their behaviors, motivations, and influencers are redefining the luxury industry – from brand positioning and product development to operations and marketing. According to the Deloitte Global Powers of Luxury Goods report, millennials and Generation Z will represent more than 40 percent of the overall luxury goods market by 2025.

Senior Planner/Project Manager, Village of Orland Park, IL | American Planning Association – Illinois Chapter Powered by the Tampa Bay Times, is your home for breaking news you can trust. Set us as your home page and never miss the news that matters to you. Sources: ComScore, Nielsen.