We've written extensively about why we expect Madison area home and condo prices to continue to rise for the foreseeable future. But there's one underlying trend that we haven't really delved into, and that's the large number of millennials who are aging into their peak home-buying years.
See the chart below from the economics blog, Calculated Risk, which shows the largest population groups by year using data and projections from the US Census. As the chart shows, a large number of millennials are aging into their 30's, and it's the 30 to 39 age range when most people enter into homeownership.
Madison is already home to a large and thriving millennial population, which is just one more reason why we expect strong demand and rising home values over the next decade.
** Chart is from the Calculated Risk economics blog **
This article is published courtesy of:
Dan Miller, REALTOR
Mad City Dream Homes & RE/MAX Preferred
1619 Monroe Street #1, Madison, WI, 53711
