Millennials are buying homes in droves - just not where you'd expect

While there has been plenty of media attention about the lack of home-buying activity among the millennial generation, a recent analysis of home sale data performed by Realtor.com® and reported by Bloomberg shows that in many U.S. cities, millennials make up half or more of home purchasers and a large number of them are first-time buyers. They are just buying homes in less glamorous places than where the media has asserted the younger generation wants to live. For example, millennials—those between the ages of 25 and 34—accounted for nearly 60 percent those who took out a mortgage to buy a home in the first half of 2015 in Des Moines, Iowa. They accounted for 45 percent or more in places like Provo, Utah; Madison, Wisc.; Grand Rapids, Mich.; and New Orleans.

Source:time

Setting new records in Santa Barbara real estate

Another record week here at Village Properties Santa Barbara Real Estate. 

With 60% of our sales having multiple offers this is the highest number we have experienced - in recent times :) 

Unfortunately along with a high number of sales we had very few new listings this week, meaning our inventory is being reduced further. 

Another busy week has already started. Until next week.

RECORD SALES FOR MARCH

Spring time is usually when we see an increased inventory but with double the number of sales compared to the number of new listings that doesn't seem to be the case this year. 

For the month of March we saw double the number of sales when compared to February, that would partially explain the low inventory. 

This last week once again did we have multiple offers on 50% of our sales at  Village Properties - Santa Barbara Real Estate. 

To another successful week.

IT'S A NEW YEAR

We are off to a great start in 2015 with 40% of our sales at Village Properties having multiple offers. The number of new listings are up which is typical for the beginning of the new year.