Wait, we thought millennials only killed things

Millennials are buying up real estate in the Valley, and the East Valley Tribune is reporting on how that’s affecting both Chandler and Gilbert

It’s been a long time coming for the generation who put off home buying more than any other (must have been all that avocado toast). Many are leaving their apartments in Phoenix for homes and condos in Chandler and Gilbert as they can finally afford to do so. 

Noting the cities’ concentration of high-paying jobs, Chandler and Gilbert make sense as millennial landing destinations. Gilbert currently has an average age of 30.7 years and median household income of $64,000 while Chandler checks in a little older at 34.9 years and a median income of $75,633. 

Perhaps because of their late start in the market, millennials don’t seem to have much interest in sweat equity or fixer-uppers. Realtor Mindy Jones Nevarez told the Tribune that many young buyers are willing to forego square footage for higher-end options and newer homes. 

Older millennials, aged 27 to 36, made up 28 percent of homebuyers in the country in 2016 while young millennials made up six percent of buyers. Those numbers are expected to rise this year and the East Valley finds itself in a good position to offer what those buyers are looking for.