It may seem an obvious question but the National Association of REALTORS® recently engaged in a study to determine why people continue to buy homes.
According to their results, nearly a third of all buyers purchased a home simply to have one of their own, the biggest single reason. For Millennial buyers the percentage was even more pronounced: 48 percent cited that reason.
The generational divide is somewhat more predictable: younger buyers looking for a first home to establish a household or for more space for a growing family, while older buyers were purchasing homes due to job relocations or retirement.
Read more at Chicago Agent Magazine here.