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September 6, 2018 - 6:05pm

Batavia is apparently a hot spot for single Millennials to buy homes

posted by Howard B. Owens in real estate, business, news.

According to Ellie Mae Millennial Tracker, 77 percent of Millennials who bought homes in July where single.

That's the fourth highest total in the nation, according to the tracker.

Lynn Bezon, co-owner of Reliant Realty, said that percentage may be masking a trend she sees: Which is for only one member of a Millennial couple to take out the mortgage to buy the house.

"One person in the couple may not be creditworthy or not have the income (to qualify)," Bezon said.

Sometimes, the couple isn't married and a parent has recommended only the person who has the means to make the purchase take out the loan.

"I don't get a lot of single Millennial buyers," she said.

Millennials are generally considered to be people born in the early 1980s through the mid-1990s, so some Millennials are now in their 30s, and that's the age where more single Millennials will buy a house, she said, though it's still not common.

A common reason one person in a couple might not qualify for a loan yet is the other person weighted down by college debt. 

That is also the number one reason Millennials don't buy homes at all, she said.

Sometimes they have to wait for the right job to come along that pays them enough to diminish the negative effect of student loans on credit applications. 

The city's with higher single-Millennial purchasers are:

  • Bay City, Mich., 82 percent
  • Cheyenne, Wyo., 82 percent
  • Norwalk, Ohio, 80 percent

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