My sons are Millennials. My Walnut Creek Lifestyle freelance writer is a Millennial. More and more of my clients and colleagues are Millennials, as that generation continues to age into home-buyers.
So, realtors like myself are starting to notice more trends with the market geared toward that age group. It’s a different real estate market for Millennials than it was for their parents – nowadays, they are graduating with huge student loan debts, having trouble finding lucrative work out of college, and then struggling to pay sky-high rents and mortgages once they do get jobs.
That said, Millennials are driving the real estate market right now, which has made the following observations more obvious.
From San Francisco realtor John Solaegui:
- There is a low inventory of single-family homes in San Francisco
- Millennial buyers don’t care about parking spaces (though this might be more prevalent in San Francisco – it’s contradicted by the graphic above!) with the rise of ridesharing apps – they’d prefer having decks or gardens for outdoor entertaining
- Areas like Noe Valley, Glen Park, Bernal Heights and The Sunset in San Francisco are extremely popular with Millennial buyers right now
From the California Association of Realtors’ REALTOR Magazine:
- Millennials are cashing in on equity at a historic rate, thanks to rising home prices
- One-third of Millennials say they are considering applying for a HELOC (home equity line of credit) in the next 18 months – much more than Gen-X or Baby Boomers
- HELOC’s are popular with Millennials because they can consolidate debt and afford home remodels with them
I think this is an interesting trend in our market. Home prices are high, but so are the debts and loans owed by Millennials, so we’re seeing more and more interest in new ways around that issue. And even more interestingly, Millennials are changing the way we market homes – who cares about parking when you don’t have a car, right?
If you’re looking for a good activity to get out of the house this evening, I have good news for you. The Broadway Plaza summer concert series is back in downtown Walnut Creek!
Tonight, from 6:30-8:30 p.m., marks the first in a series of shows played at Event Plaza. If you like what you hear and see, you can go again on any Thursday in August.
First up tonight is SuperHuey, followed by The Purple Ones on August 10th, and Fleetwood Mask (that’s “Mask,” before you get too excited…) on August 17th. Festivities include the music, vendors, shopping, and more.
It’s a perfect family outing for people of all ages. Bring a blanket or chair and a few dollars for a glass of wine, and enjoy the summer air with your fellow East Bay music lovers!’s
Note: with the new development, the events plaza is in front of Macy’s and I find the area not that welcoming to large crowds. it gets really tight with limited seating, so many people are just standing around. If you are there to shop, you will find yourself in tight quarters and a swarm of people. Personally I miss the old parking lot space.
For fans of my recent Anthropologie blog, you’ll be happy to know that there’s another awesome new store in Walnut Creek that can fit your furniture needs. Arhaus is located in Broadway Plaza and has everything you’d ever need when looking to upgrade the interior and yards of your home.
Arhaus started in 1986, but just recently opened their Walnut Creek location. They pride themselves on unique, quality pieces made with natural hardwoods, stone and fabrics.
One of the coolest things Arhaus does is that they use recycled natural resources like copper and tree roots to make some of their more functional pieces, and they have a commitment to never using wood from endangered rainforests.
I was really impressed with the style Arhaus offered and took a few photos (see below) of the store. The wide range of unique furniture caught my eye, and I’ll definitely be coming back when I went to re-furnish any part of my home with new pieces!