That’s right! Gen Z adults (ages 18-25) are living at home with family in droves and Millennials are right behind them. Raleigh tops the charts for Zoomers at home:
* 87% of Gen Z Adults in Raleigh are living with at least one family member *
That’s 155k people and 58% of them have plans to move out on their own in the next 12 months. That’s roughly 90k people that will need housing this coming year and we unpack the challenges they face as they compete against out-of-state home buyers and deal with elevated living expenses.
(Source: News & Observer)
Also, Raleigh falls 3 spots, down to #9 for overall Real Estate prospects in 2024. This is according to the 2024 Emerging Trends in Real Estate report produced by the Urban Land Institute. We break down why we think this story is likely connected to the N&O article, as we observe the MACRO elements to our Triangle market.
(Source: Triangle Business Journal)
Thanks for tuning in to hear from, Your Two Favorite Realtors on the Internet!