The Lawhead Team would like to share the latest One Cool Thing from the C.A.R. about the pressures Millennials face in today’s real estate and job market. 

Achieving the American dream has proven more difficult for millennials.

Boomers bought homes and raised families during more optimistic times when there was a big middle class and healthier job market. Millennials have faced a real-estate market bust, overwhelming college debt, and delayed career starts – impacting earning potential and leaving unique financial pressures on the largest generation in history.

The cost of purchasing a house has increased

• $174,065 – median home price in 1982*
• $213,800 – median home price today

Median household incomes have decreased

• $57,530 – median household income in 1982*
• $53,482 – median household income today

Many more households are struggling with students loans

• 1989 – 16% of young households had outstanding student loans
• 2010 – 37% of young households had outstanding student loans

$245,340 – Cost of raising a child from birth to age 18

Source: The Futures Company, 2016

*adjusted for inflation

The Lawhead Team would like to share the latest “One Cool Thing” from CAR about Agent Communication and what millennials are looking for from their Real Estate Agents.

Over half of millennials find homes through agents and the majority of Millennial home buyers would work with the same agent again.

So what exactly are millennials looking for from their agent? Here’s what the California Association of Realtors® 2014 Millennial Survey told us:

• 31% of millennials are looking for responsiveness from their agent.
• 27% of millennials are looking for knowledge from their agent.
• 8% of millennials are looking for negotiation power from their agent.
• 4% of millennials are looking for aggressiveness from their agent.

What do you look for from your Real Estate Agent?