Millennials, Boomerang Buyers Confident in 2014 Real Estate Market

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Prudential Texas Properties reports that a healthy combination of interested home buyers and sellers will help further boost the real estate market in 2014, and many will require the services of a licensed real estate professional to do so.

Equal Housing Opportunity

Equal Housing Opportunity

The dream of home ownership is very much alive in North Texas just like it is through much of the country.

The North Texas real estate market, like most markets throughout the country, experienced significant gains in 2013. While 2014 is just getting underway, it’s never too early to express signs of optimism for the year to come, and hard data is backing that optimism if the recent Prudential Real Estate Q4 Consumer Outlook Survey is to be believed.

Prudential Texas Properties is proud to report some very positive data that should lend itself to a very prosperous 2014 in North Texas real estate. Confidence among buyers, sellers and agents alike will lead to increased activity. Favorability of the real estate market climbed 5 percent between Q3 and Q4 last year, and 78 percent of consumers said they had a favorable view of the housing market in Q4 2013.

But who exactly is being so optimistic about the real estate market in 2014? It might be surprising to some, but Millennials are actually leading the way. Yes, the generation that was once synonymous with renting and taking part in the boomerang effect, of moving back home with their parents after graduating college, is now ready for home ownership. In fact, 70 percent of Millennials stated they are optimistic about the 2014 housing market.

“The dream of home ownership is very much alive in North Texas just like it is through much of the country,” said DD Flynn, VP of Marketing with Prudential Texas Properties. “And they aren’t going it alone either, as demand for real estate professionals to aid with a transaction is reaching new heights.”

Click here for a 60-second Dallas home market update.

The Prudential survey did find that 62 percent of respondents said that now more than ever they will need a real estate agent for guidance throughout the process. In addition, 70 percent said that a good agent can help maximize their investment.

In addition to Millennial and first-time home buyers, the real estate market is also expected to benefit from boomerang buyers who were once home owners, but enough time has passed and their credit has been built back up to the point where they can buy once again.

©2014 BRER Affiliates LLC. An independently owned and operated broker member of BRER Affiliates, LLC. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Prudential Texas Properties is an independently owned and operated member of BRER Affiliates LLC. Equal Housing Opportunity.

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Kyle Fitzsimmons
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