Realtors seeing surge in younger home buyers

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by JASON WHITELY

kvue.com

Posted on February 20, 2013 at 10:43 PM

FRISCO, Texas –– Crystal Anderson, 25, is becoming the new norm of home buyers.

"Most of my friends still have apartments," Anderson said, standing in one of her guest bedrooms.

Anderson's identical twin sister bought her first home at age 22. When Crystal got out of nursing school, she bought a 1,400 square foot house with three bedrooms.

"I decided, why am I going to put all that money I'm spending on an apartment just down the trash?" Anderson said.

Kristen Mackey, a Realtor with David Winans & Associates, said she sees younger buyers everyday.

"I would say at least 50 percent or more of my clients are younger clients, are Generation X or Generation Y," Mackey said.

During the downturn, many younger people moved back in with their parents. But a recent survey by Better Homes and Gardens Real Estate discovered 18 to 25-year-olds value homeownership. Realtors said they're seeing a surge of them buying recently.

"One of their primary goals is to stop renting, stop leasing," explained Mark McDonough from Better Homes & Gardens Real Estate. "They want to own that property and so they were willing to make the sacrifice of moving back in with mom and dad a while to make that dream a reality."

"It's definitely a tough market," Anderson said.

She admits buying her house was a little intimidating but her experience reinforces the survey results –– that buyers are getting younger, more tech-savvy and taking advantage of the existing market.

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