PORTLAND, Ore. (KOIN) — The millennial generation now surpasses the baby boomers in size and account for the largest chunk of buyers in the housing market.
For local real estate agent Janine Ward, it’s changed not only the market, but how she does her job.
Ward, who works for Keller Williams, says millennials can be a picky bunch.
“They want what they want so if it’s not there they either have to renew their or lease or make an adjustment,” says Ward.
Ward says millennials have certain features they are looking for and not looking for, like a formal dining room.
“For millennial generation, no, it’s a total waste of space.”
Ward says size is important, too.
“They don’t want a big, suburban family huge. But they do want a little bit of room for if they get married, a young couple has a baby, they want that extra space,” Ward tells KOIN 6 News.
And forget about a fixer-upper.
“As move-in ready as possible. They don’t want to do too much.”
Many millennials are living with their parents longer to save up for a down payment. And if all their features aren’t met, including short commutes and walkability, they have no problem putting off the purchase, says Boaz Frankel, who is home shopping with his fiancee Brooke Barker.
“Since this is a transition period anyway with getting married and a new place, put our stuff in storage and travel a few years, come back here after things have settled down or we’ve struck it rich somehow,” he says.