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HOTTEST 2016 MARKETS FOR MILLENNIALS

HOTTEST 2016 MARKETS FOR MILLENNIALS 
Numbering 43.5 million, the older group of millennials (aged 25 to 34) makes up 13.6 percent of the U.S. population but fully 30 percent of the current population of existing-home buyers.

In 2016, millennials have the power to remake the real estate landscape wherever they choose to settle. But where will that be?

realtor.com is forecasting the top 10 markets likely to see a surge of millennial buyers and five places these buyers are likely to leave next year.

The ranking takes into proprietary 2016 sales and price projections, the representation of millennial users among viewers of “for sale” listing pages on realtor.com from July to October, and the share of head of households aged 25 to 34 relative to all heads of households, from 2015 Nielsen Pop-Facts.
  1. Atlanta, Ga.
  2. Pittsburgh, Pa.
  3. Memphis, Tenn.
  4. Boston, Mass.
  5. Austin, Texas
  6. San Diego, Calif.
  7. Seattle, Wash.
  8. Houston, Texas
  9. Denver, Colo.
  10. Charlotte, N.C.
realtor.com also identified five out of the 100 largest markets that millennial buyers will probably shun in 2016. In these five places, the number of mortgages purchased in 2015 by 25- to 34-year-olds was below average, and relatively few members of that age group were looking at listings on realtor.com. In addition, these five markets have no growth forecasted for next year—and younger buyers are driving much of the growth in real estate, according to realtor.com’s forecast.

The following list is not ranked.
Jacksonville, Fla.
Phoeniz, Ariz.
Port St. Lucie, Fla.
Spokane, Wash.
Stockton, Calif.

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