Millennials Are Cautious About Buying OC Homes

ORANGE COUNTY, CA—The high price of homes in Orange County is keeping many Millennials out of the residential market, Keith Thomas Jr., a local Redfin real estate agent, tells GlobeSt.com. Thomas says, “If I had to write a tweet and sum up the OC Millennial homebuyer in 140 characters or less, I’d say ‘Millennials are very cautious when buying in the OC real estate market—rightfully so, as median prices are much higher than many can afford.’ ”

Redfin recently came out with a report that showed a disconnect between homebuyers and sellers across the county. According to the report, an increase in the number of homes for sale hasn’t been enough to bring them back to the market; affordability and financing hurdles are now holding them back. Also, sellers have been slow to realize that the market is shifting away from their favor.