“The majority of single-family and multifamily housing production in the nation is occurring in counties with the greatest concentration of millennials. However, in a warning sign that the housing affordability crisis persists and more construction is needed, the pace of housing production in areas with the greatest concentration of millennials lags the rest of the nation, according to the latest quarterly NAHB Home Building Geography Index “(HBGI).
The HBGI found that those counties with elevated millennial shares account for 62% of the entire U.S. population. These counties also account for 59% of single-family home building nationwide.
Read this article from the National Association of Home Builders. It gives you a good idea on how the mark is being missed in a big way. To me, home prices in the $200k – $350k range would make a huge difference to Millennial buyers.
Check out my new website – The Ageless Home™ We start buiding in 2020!
Enjoy the day! ~Valerie