Source: Boston Business Journal (LINK)
Date: December 2, 2015
Author: David Harris
It's no secret that Boston's millennial population is booming, but a new report shows that same group of young people will play a more active role in buying homes around the region next year.
Realtor.com, the official website of the National Association of Realtors, projects that the Boston area will rank as the country's fourth-busiest market for homebuyers between the ages of 25 and 34. The research was based on a formula of millennial population, employment growth and housing affordability.
"Driven by increasing income, millennials will seek out homes that meet the needs of their growing families – putting the most weight on the safety of the neighborhood and the quality of the home," according to the report.
No. 1 on the list is Atlanta, followed by Pittsburgh and Memphis. Austin was No. 5 on the list.
A single-family home in Boston has risen to a median price of $405,198 in the Greater Boston area so far this year, according to the Warren Group.