Millennials’ Impact on the Birmingham Real Estate Market
As millennials begin entering the home-buying phase of their lives, the Birmingham real estate market must prepare for an influx of prospective homebuyers. Areas such as Crestwood, Forest Park, Avondale, Highland Park and Southside. All of these areas are becoming popular destinations for those looking to live closer to the prospering downtown scene.
A 2015 National Association of Realtors report shows that millennials made up 32 percent of homebuyers. This may come as a shock to the popular belief that young people are not looking to purchase homes. In Birmingham, these popular millennial markets are struggling to find the inventory to keep up with the demand for housing.
Along with a large number of millennial homebuyers comes young real estate agents. At ARC, agents of all ages are partnering together to get the best of both generations when making a sale.
“You’re starting to see a new generational style that’s different from the old-guard crowd,” said our own Tommy Brigham in a recent article by the Birmingham Business Journal. “We’re trying to differentiate ourselves by blending the strengths of the different generations.”
The younger agents aren’t spending a fraction of the advertising dollars that the older agents have spent in the past. Millennial agents can put a listing on social media accounts and have interested buyers within minutes. However, real estate is a highly relational business that can’t rely solely on the power of the internet, which is why face-to-face contact remains crucial throughout the process.
We have also recently launched a new website that is designed to accommodate today’s visually focused and information-on-demand users. We have made searching for homes easier and connecting with agents more convenient. You can also find market information, view Birmingham’s upcoming open houses and learn about the events and activities that Birmingham has to offer.
Contact Us
If you would like more information about Birmingham’s real estate market or any of ARC’s services, call us at 205-969-8910 or visit www.arcrealtyco.com.
