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Millennials Top All Home Buyers

For the fourth year in a row, millennials comprised the largest number of recent home buyers: 34% millennials (buyers 36 years and younger); 30% baby boomers (buyers 52-70); 28% Generation X (buyers 37-51); and 8% the silent generation (buyers 71-91). The National Association of Realtors' recently released 2017 Home Buyer and Seller Generational Trends study reveals that more millennials are buying outside the city; student debt is common among Gen X and boomer households; and a growing number of millennials and younger boomer buyers have children living at home.

All but the oldest of buyers started their home search online. All generations typically looked at 10 homes over a 10 week period. Eighty-eight percent of purchases were financed.

Regardless of age, buyers and sellers continue to rely on real estate agents and brokers. In the 2017 study, nearly 90 percent of buyers and sellers worked with a real estate professional. 

 
Roanoke Valley Greenways Needs Your Input
The Roanoke Valley Greenways needs your input to determine its projects and priorities for the future. Six meetings are being held in locations throughout the Roanoke Valley -- 3 locations in Roanoke, plus 1 each in Daleville, Salem and Vinton. Click here for the dates and times of the meetings. (Registration is not required.) And if you cannot attend any of these meetings, click here to take a short survey.
 
Animals Impact Home Decisions

In 2016, 61 percent of US households either have a pet or plan to get one in the future. When making decisions about buying, selling or renovating their homes, Americans, by and large, take their pets' needs into account, according to a new report from the National Association of REALTORS®.

The 2017 Remodeling Impact: Animal House report found that 81 percent of respondents said that animal-related considerations play a role when deciding on their next living situation.

According to the survey, 52 percent undertook home renovations to accommodate their pet. And 89 percent would not give up their animal because of housing restrictions or limitations. A majority of surveyed animal owners, 83 percent, own a dog; 43 percent own a cat; 9 percent own a bird, reptile, amphibian or small mammal.

 Click here to read NAR's full report.

 
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