Homebuyers

Fox Business: Why Starter Homes are the Next Big Housing Trend

As more millennials begin to buy homes, builders are catering to that climbing demand.

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More millennials are starting to buy their first houses. And that means that there’s a new segment of the industry for professionals to tap into: starter homes.

According to a recent Fox Business article, some builders are starting to work on projects that cater to a lower price points and prospective millennial buyers. After the number of first-time buyers dropped by 32 percent in 2015—its lowest level in nearly three decades—it jumped back up again 35 percent last year. That confidence in the market is catching on across all levels of the industry.

In an interview with Fox Business, Gregg Nelson, co-founder of California home builder Trumark Cos, said, “There’s an increasing confidence level in that part of the market. The recovery is finally starting to take hold in a broader way.”

To read the original article, click here.