New survey data from Realtor.com finds that the Buffalo, N.Y. real estate market gives Millennial homebuyers the best bang for their buck.
March 1, 2019
Photo: Unsplash/Ben Cliff
New survey data from Realtor.com finds that the Buffalo, N.Y. real estate market gives Millennial homebuyers the best bang for their buck.
More than half of mortgages issued in Buffalo in 2018 were for Millennial buyers. As well, these buyers had more than a 50 percent share of sales for the year in Cincinnati and Columbus, Ohio; Milwaukee, and Pittsburgh. Javier Vivas, director of economic research for the real estate platform tells CBS News, "When you look at the top markets, they're all good, affordable metro areas." Buffalo's median home value is roughly $158,000.
Millennials have slowly been taking over the lion's share of homebuying from baby boomers and Generation X for years. The millennials are getting older, establishing themselves in their careers and settling down. Now, they're choosing homes in regions previous generations have not. Their top priority? Affordability.
