Buffalo Is The 2nd-Best Real Estate Market For Millennials
The National Association of Realtors has named Buffalo a top real estate market for young millennial home buyers.
According to the National Association of Realtors' Top 10 Fall Markets for Millennial Home Buyers the Buffalo-Niagara region is one of the top real estate market for young home buyers - second only to Akron, Ohio.
Millennials are referred to those born during the 1980's and 1990's, which means that for those in their 20's and 30's Buffalo is an ideal place to buy a home.
National publications have been heaping praise on Buffalo's quality of life as of late. Recently, Buffalo was recognized as the nation's 6th best city for quality of life. Bloomberg also recognized the Queen City as the least riskiest real estate market in the past 35 years. On top of that Buffalo was also recognized as the most affordable city in the nation by Forbes magazine.
Citing the importance of young home buyers, Realtor.com notes that "Millennials are a critical component of the first-time home buyer market segment, and getting this segment functioning again is an absolute necessity for bringing the housing ecosystem back to full health. Decreased first-time home buyer sales have lessened the demand for new construction, and limited housing's contribution to overall economic growth – perpetuating a cycle of limited job and income growth."