According to National Association of Realtors data, 36 percent of homes sold last year were purchased by Millennials, many of whom were first-time buyers. A new study shows the surprising markets where these buyers are flocking.
Over half of homebuyers in Appleton, Wisc., 57 percent, are Millennials. The median home list price in Appleton is $150,000, and has a variety of move-in ready houses. “They want an updated home, something with a new kitchen, updated bathrooms, and a large yard," real estate agent Carolyn Stark tells Realtor.com. "You can see the look on their faces when they see places that have been renovated, and have new flooring and carpet, that makes them happy.”
Last fall, Kit Kester, 32, and his wife decided it was time to make the giant leap into first-time homeownership. But they didn't consider relocating to San Francisco, Austin, TX, Williamsburg, Brooklyn, or any other infamous millennial hotspots across the U.S. Instead they centered their search on hometown Lincoln, Neb. By October, they had purchased a three-bedroom, split-level home in suburban neighborhood Highlands for $180,000. “We got tired of paying rent and throwing money away," says the maintenance supervisor and father of a young child. "And we really liked the idea of having a home for my daughter to grow up in.”
