You couple with keys - The Mark Company
February 2, 2018

California Is Home to the Largest Share of Millennials, and They Are Active Homebuyers

Pacific Union Chief Economist Selma Hepp examines millennial population and homeownership trends in California and the Bay Area.

 

  • A recent report by The Brookings Institution took a deep look at the millennial generation (defined as those ages 25 to 34). Millennials are important because they are currently the largest generation since baby boomers. Millennials make up about 25 percent of the U.S. population, 30 percent of the voting population, and 40 percent of the working-age population, and they are increasingly more active homebuyers.
  • In addition, millennials are more racially and ethnically diverse than previous generations, as well as more educated. Nevertheless, large differences in educational attainment persist across ethnicities.
  • With almost 10 million millennials living in California, the state is home to the largest share of that generation — 13 percent of the population — which other than Texas at 9 percent is double the share of millennials in any other state. In Washington D.C., millennials account for 34.8 percent of the population.
  • Los Angeles has the largest millennial population in California and is second to New York nationwide.

 

To read the full analysis, click here: http://pacunion.us/2s4HYDU

 

 


About The Mark Company

The Mark Company is one of the nation’s premier urban residential marketing and sales firms. Founded by Alan Mark in 1997, The Mark Company provides a full range of core consulting services including analytics, design, marketing and sales for urban high-rises and suburban attached properties throughout the Western United States. The firm is a trusted partner to global leaders in residential development and finance, providing buyer-driven sales and marketing strategies that produce industry-leading results. The Mark Company has represented more than 10,000 residences and generated over $5 billion in sales for some of the nation’s most notable and successful developments including The Infinity in San Francisco, Evo in Los Angeles and The Martin in Las Vegas. Current projects include 181 Fremont Residences and The Austin in San Francisco and Cavalleri in Malibu. The Mark Company is a subsidiary of San Francisco-based Pacific Union International, the eighth-largest residential real estate brokerage in the U.S. based on 2016 sales volume of $10.15 billion. Pacific Union merged with Los Angeles-based brokerages John Aaroe Group in December 2016 and Partners Trust in August 2017. This strategic business collaboration links four of the strongest residential real estate firms on the West Coast, supporting combined 2016 production of $12.6 billion by 1,400 real estate professionals in 47 offices throughout California. For more information, please visit www.themarkcompany.com.