If you need assistance, please call 303-222-2131

Millennials Are Increasing the Demand for Condominiums

Tuesday, July 2, 2019   /   by Scott Goodnight

Millennials Are Increasing the Demand for Condominiums

20190702-Share-KCM.jpg

When deciding to buy a home, people are presented with many different options. The type of home you buy depends on your needs, budget, and in many cases, the desired maintenance level. For many millennials, their choice has been buying a condominium!

According to CoreLogic,

Last year about 43% of all condo home-purchase mortgage applications were submitted by FTHBs… Similarly, the data show condos were more popular with young homebuyers and empty nesters. For instance, 21% of all condo home-purchase mortgage applications were submitted by buyers aged 18 to 30, compared with just 17% of all single-family home-purchase mortgage applications by the same group in 2018.”

With home prices increasing year-over-year, it makes sense millennials are buying condos instead of a single-family house. As a result, the demand for this type of home has been increasing.Millennials Are Increasing the Demand for Condominiums | MyKCMAs this graph explains,

The younger millennials are the largest cohort and are likely to drive much of the condo demand in the coming years”.

Bottom Line

If you are a millennial considering buying a home, understand that there are many options available. You may find yourself in a condominium as your first home. If you would like to determine which type of home best fits your needs, let’s get together to evaluate your options!

Hudson Stonegate Team | Coldwell Banker Residential Brokerage
Scott Goodnight
8501 Turnpike Drive, Ste 211
Westminster, CO 80031
303-222-2131

Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules. © 2019 IRES. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated December 8, 2019 11 PM. Information deemed reliable but not guaranteed by the MLS or Scott Goodnight - WinBack - Coldwell Banker Residential Brokerage - Hudson Stonegate Team.
The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange (IDX) program of METROLIST, INC., DBA RECOLORADO®. Real estate listings held by brokers other than Scott Goodnight - WinBack - Coldwell Banker Residential Brokerage - Hudson Stonegate Team are marked with the IDX Logo. This information is being provided for the consumers’ personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified.
REcolorado® Terms and Conditions
The real estate listing information and related content displayed on this site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate by the Pikes Peak REALTOR® Services Corp.