Skip to main content

NAR: Millennials Flocking To These 10 Markets During Pandemic
Jun 04, 2020
Photo credit: Getty Images/Daniel Lozano Gonzalez

The National Association of Realtors identified 10 markets with favorable conditions for millennial homebuyers during the coronavirus pandemic. In alphabetical order, they are:
►Austin-Round Rock, Texas
►Dallas-Fort Worth-Arlington, Texas
►Des Moines-West Des Moines, Iowa
►Durham-Chapel Hill-Raleigh, N.C.
►Houston-The Woodlands, Texas
►Indianapolis-Carmel-Anderson, Ind.
►Omaha, Nebraska/Council Bluffs, Iowa
►Phoenix-Mesa-Scottsdale, Ariz.
►Portland, Oregon/Vancouver, Wash.
►Salt Lake City, Utah
Record-low mortgage rates have improved housing affordability, bringing more buyers into the market, and multiple offers for starter homes could become common in these metro areas,” said Lawrence Yun, the association's chief economist. “With relatively better employment conditions and a strong presence of millennials in these markets, more new home construction will be required to fully satisfy the housing demand as the economy reopens.”
The top 10 metro areas for millennial homebuyers were identified by analyzing current housing affordability, local job market conditions during the coronavirus pandemic, the share of millennials in the area and inventory availability in the largest 100 metropolitan statistical areas across the country.
“Nationally, millennials make up the largest share of homebuyers and these metropolitan areas, in particular, offer great opportunities to realize the dream of homeownership,” said the association's president Vince Malta. “As states and cities begin to reopen, millennials will play a significant role in the housing market’s recovery.”
The 10 markets listed had a smaller share of workers, on average, in industries most affected by the pandemic-induced economic lockdown. For example, in Durham and Des Moines, 15% and 17% of employees, respectively, work in industries at high risk from coronavirus. The average for the largest 100 metropolitan areas is 21%.
Another common factor among these markets is better-than-average inventory availability. For Des Moines and Omaha, the number of active listings in April 2020 increased by 5% and 1%, respectively, according to However, inventory declined 18% on average in the largest 100 metro areas.
Click here for more information on the “Top 10 Most Favorable Areas for Millennials During the Pandemic.”

Jun 04, 2020
Guild Mortgage Announces Medical Professional Mortgage Program

Guild Mortgage introduced a new mortgage product to help medical professionals buy their first home with no down payment.

Industry News
Oct 27, 2021
Mortgage Coach And HomeBinder Partner On New Integration For Homeowners

Mortgage Coach announced a new integration with HomeBinder aimed to help homeowners stay connected with their lenders.

Oct 27, 2021
Non-QM Lender Angel Oak Appoints David Raju As Group CIO

Firm continues to seek ways to optimize data and improve technology capabilities.

Oct 27, 2021
Evergrande Steadily Repays Debt While Taking On New Risk

Evergrande Chairman Hui Ka Yan has ambitious plans, signaling last Friday that the firm wants to move away from housing and focus on making electric cars. 

Industry News
Oct 26, 2021
Planet Home Lending Reports Q3 Gains In Asset Management, Servicing And Originations

The Planet Home Financial Group, LLC, parent company of Planet Home Lending, LLC and Planet Management Group, LLC reported steady growth across its servicing, correspondent and private-client channels.

Industry News
Oct 26, 2021
CFPB, DOJ And OCC Hit Trustmark National Bank For 'Deliberate' Redlining

The Consumer Financial Protection Bureau and U.S. Department of Justice, in conjunction with the Office of the Comptroller of the Currency are taking action against Trustmark National Bank for alleged redlining violations.

Industry News
Oct 25, 2021