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ViewPoints June 2018- “Millennials in our Marketplace”

July 16, 2018

MARKET UPDATE

"Millennials in our Marketplace"

Success starts with understanding your playing field. Apex has more than a passing interest in research; we have a passion for it. The “Market Update” column in this newsletter will report on data revealed by experts. Today we’re analyzing millennials—home buyers in their twenties and thirties. According to John Burns Research these buyers are looking by necessity for smaller homes and prices. They’re starting out later in life, five years older than buyers ten years ago. They’re often saddled with college loans and have faced a tough job market. CNBC indicates home ownership for millennials dropped recently from a 3-year high of 36 percent due to weakening affordability and a poor supply of “starter” homes. Trulia’s researchers noted that millennials saw inventory plummet 14 percent, and prices leap 10 percent. According to the National Association of Realtors, the supply of starter homes is down 21 percent. And the chief economist at Freddie Mac reports mortgage rates are the highest since 2013. Real estate research from Science Daily called home ownership a “dream deferred” for some millennials. More stats agree, but cutting to the chase, what does it mean for Apex? Bottom line: Demand exists among millennials as long as homes offer affordability. Young people in this major segment are not big spenders. The Apex business plan is rooted in acquiring affordable homes at low prices, reconditioning them into showplaces, then offering irresistible value. Millennials will like that. Independent research regarding this is encouraging.

POINTS OF VIEW

In this column “Viewpoints” will share timely insights from key Apex people and associates. Today, we start with comments from our leadership duo, Mark Filler and Chris Shaxted. Their observations confirm data revealed in our Market Updates column. Mark and Chris are bullish on our first three market concentrations, Illinois, Wisconsin and Indiana, because for 10
years this region has been weak in supplying affordable homes due to construction costs. Chris notes that millennials are looking for places closer to urban areas—provided affordability is there. And Mark points out that many baby boomers, now a 45-million strong segment of the population, are looking to sell their post WWII housing. That dynamic makes for a potent opportunity: folks offering product that’s prime for reconditioning by Apex, and a corresponding group of younger buyers looking for Apex’s brand of skillful reconditioning in good neighborhoods.

BUYING, BEAUTIFYING, SELLING

Every Viewpoints newsletter will share visual highlights of Apex in action. Before-and-after photos illustrate why buyers and brokers are attracted. And why investors are proud. This home in Deerfield was unoccupied, so we could immediately begin reconditioning and staging for a quick sale. We enhanced its interior by raising a floor and expanding the kitchen to give it a bright, contemporary look while adding convenience. Perfect for fun family living. Photos say it all. Enjoy!

Apex National Real Estate | 126 E Wing Street, Suite 159, Arlington Heights, IL 60004

888 773 APEX | apexnationalre.com


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  • Apex National Real Estate
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  • 126 E Wing St, Suite 159, Arlington Heights, IL 60004
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  • 888 773 APEX

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