Mother’s Day occurs every May. In 2019, Mother’s Day fell on Sunday May 12. What are some of the statistics and numbers around Mother’s Day celebrations each year?

 

  • The average age of American first-time mothers in 2017 was 26.8 years old 
  • 75% of consumers give cards to their mothers 
  • Roughly 2 in 3 consumers give flowers to their mothers 
  • If a mom was paid for the household tasks and responsibilities they do as a mother, then those tasks are worth $68,875!

 

Flowers, chocolate, and one of the busiest days to go out to eat, but none of those have to do with the housing market.

What about this Mother’s Day related piece of trivia… 

 

Question

What counties in America have 35.4% of millennials living at home?

 

Hint:

Think local.

 

Answer:

Riverside and San Bernardino counties have 35.4% (more than 1 in 3) millennials living at home. Riverside and San Bernardino counties are closely followed by Los Angeles and Orange counties with 32% of millennials living with Mom or Mom & Dad.

 

These 4 counties encompass much of Southern California, where KALEO Real Estate Company works with home buyers and home sellers. In any of those counties, the age group between 23-37 years old are highly likely to be living at home. 

 

You might be raising your eyebrows right now saying — “Yes, I know millennials live at home. I have one at home right now” — or you might be that very millennial living at home.

 

The Orange County Register reported on the millennial with Mom trend:

In many cultures, it’s a preferred way of life. It means that family chores can be shared — including caring for elderly parents. Also, there are significant financial savings that can prepare millennials to eventually leave the nest in better monetary shape.”**

 

It is not all bad to be (or have) a millennial living at home. With student debt a significant factor inhibiting millennials from purchasing their first home, living at home is sometimes how a millennial saves up a down payment to purchase their first home. Save on rent, pay down student loans, save for a down payment and then move out.

 

This trend is an indicator of a lot of shifts that the economic recession prompted: coliving, millennials living with parents, longer home owner tenure in properties, and an increase in renter rates. 

 

Right now, the median age of a first-time home buyer in the West is 33 years old – on the upper end of the millennial age spread of 23 – 37 years old.

If you are a home owner considering selling, then your future home buyer might be a millennial. Contrary to popular belief, millennials are moving into the suburbs – and loving it.***

Our REALTORS are available for your real estate questions and as a resource to anyone you know with questions.

Should you get pre-qualified or pre-approved?

Should you talk to a bank or a mortgage broker?

Can you submit an offer to your dream house before putting your home on the market?

 

These are great questions, but it isn’t a good feeling to have a flurry of questions in your head that are not getting answered. Our priority at KALEO Real Estate Company is educating our clients. We want to explain the home buying process and shed light on your rights as a home seller and what escrow would look like for you. 

Contact us today to find out what your home is worth and learn about the step-by-step process of becoming a home owner. 

 

 

 

 

Source:

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.