Austin is the best purchase market for aspiring Millennial homebuyers, according to new research from the National Association of REALTORS® (NAR). The report cites strong job growth, low unemployment, and a large existing population of Millennials—the generation born roughly between 1983 and 2001. According to NAR, Millennials or “Generation Y” account for 17.3% of the total Austin population, the highest percentage of any city named on the list.
This segment of consumers is poised to become the largest market of homebuyers in the next few years, but “don’t expect Generation Y to follow in anybody’s footsteps,” says NAR. Growing up in the Information Age has shaped how Generation Y communicates, makes purchasing decisions, and defines success. “Gen Y” has access to significantly more information than previous generations, says Arthur C. Nelson, presidential professor and director of the Metropolitan Research Center at the University of Utah. “They are more attuned to their options and more capable of evaluating their options [through]social media, the Internet, different kinds of networking among friends. It’s really quite remarkable” (NAR).
Understanding Millennials’ unique preferences and habits is essential for Austin-area REALTORS® and real estate professionals who want to connect with the next generation of homebuyers. Fortunately for 2014 Realty Round Up attendees, Preston Swincher knows a thing or two about tapping into the minds of Generation Y. As an accomplished speaker and trainer, Swincher studies “how the Information Age is driving change in the American Dream and how that change impacts the behavior of Generation Y employees, consumers, and voters.” Swincher’s informative and entertaining presentation, Connecting to Digital Natives: Leading Through Generations, delivers actionable insights about how to “motivate and engage employees, consumers, and family members of all ages.”
Learn how to connect with the fastest-growing segment of homebuyers at Realty Round Up on October 15! Registration is free for REALTOR® members of the Austin board of REALTORS®.