Denver's 'Prime' Customers

January 21, 2019
Man taking photo by mural
Photo: Unsplash/Daniel Salcius

Millennials get this designation for Denver's new year in real estate, according to chief economist Danielle Hale.

The economist considers Millennials as currently aged 15 to 35 years old, and said at the recent Denver Metro Association of Realtors economic summit that they will account for 45 percent of all home loan borrowers in the U.S. in 2019. Generation X will take a 37 percent share, while Boomers will account for 17 percent, says Hale, The Denver Post reports. Her advice to real estate brokers in courting Millennials is to, “figure out how to talk to them and interact with them and get them over the hurdle of getting into the housing market."

There is good news for the millennials and everyone seeking to buy a home in the Denver area this year, Schafer said. After the number of properties on the market hit a record low 3,854 at the end of 2017, inventory has ticked up. Active listing peaked around 8,800 in the middle of last year, the highest total since 2013, and ended the year at 5,577, according to Realtor Jill Schafer’s numbers. “It’s the best time of year for them to start looking,” she said of Millennial homebuyers. “The competition is a little less and there’s a lot more choices.”

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PB-Sales + Marketing,PB-Demographics,PB-Economics