Millennials, or the millennial generation, can be defined as the segment of our population ranging 18-34 years old that were born roughly between 1980 and 2000. Oftentimes, millennials are the children of the baby-boomer generation. The millennial generation is also sometimes known as Gen Y or the Net generation, as they were born during the time of numerous technological advances. In many cases, they are seen as financially unstable, due to debt from student loans, low-paying jobs, and unemployment.
A recent article by builderonline.com stated that Daphne, Fairhope, and Foley, Alabama were ranked number four in the list of top ten markets that are attracting millennial buyers. Ranked not far behind three other markets, the Daphne, Fairhope, and Foley areas have increased in closings with millennial buyers by a solid 12.8 percent. Ranked first was Honolulu, Hawaii, which had a 26.6 percent increase in millennial buyers, second was Birmingham, Alabama, with a 23.9 percent spike, and in third place was Palme Bay, Melbourne, and Titusville, Florida, with a 15.7 percent increase.
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