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Forsyth County will be one of 2016’s Top Millennial Markets

by Peter Thomas Ricci

Millennial buyers will play a big role in Forsyth’s housing markets this year

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Forsyth County will be one of the nation’s top housing markets for Millennial homebuyer demand, according to a new study from CoreLogic.

In its analysis, CoreLogic utilized its Propensity to Purchase (PP) index, which considers 70 “characteristics” for housing demand. Using that model, it rated Forsyth as the No. 6 county in the nation for Millennial housing demand; Douglas County in Colorado, which includes part of the Denver area, came in at No. 1.

Bret Fortenberry, a staff scientist with the Decision Analytics and Research Team (DART) at CoreLogic, stated the ranked housing markets will benefit from wage growth and a growing local economy.

“A majority of the characteristics suggest that Millennials are more likely to buy in counties that have a strong and prospering economy,” Fortenberry said. “Additionally, Millennials are more likely to buy where they are making more money, indicating that areas with an improving job market are where this demographic is more inclined to buy.”

As a result, Fortenberry concluded, Millennials will shift their focus over the next six months, and will look more closely at areas with more trendy, appreciating real estate – although such a trend could increase the rate of gentrification in those areas.

Here is the full ranking from CoreLogic’s research:

County State Rank Percent in PP Index
Douglas CO 100%
Prince William VA 99.7%
Fairfax VA 99.4%
Loudoun VA 99.1%
Hamilton IN 98.8%
Forsyth GA 98.5%
Placer CA 98.2%
Wake NC 97.9%
Boulder CO 97.6%
Williamson TN 96.9%

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