Millennial Buyers Feel the Brunt of Rate and Price Hikes

Danielle Hale

SANTA CLARA, CA (April 4, 2018) – As interest rates and home prices continue to rise, millennial home buyers are more likely than older buyers to adjust what they are shopping for, according to a new survey released today from realtor.com^®, a leading online real estate destination. 

Two factors contributing to this market sensitivity are millennials’ likelihood to carry more student loan and other debt and put less down than other buyers. 

 According to the online survey of more than 1,000 active buyers conducted in March by Toluna Research, 79 percent and 83 percent of respondents of all ages, respectively, said rising interest rates and home prices will impact their home search. That rises to 92 and 93 percent for buyers ages 18 to 34 years old. 

Only 17 percent and 21 percent of all buyers indicated prices and rates would have no impact.

 “Existing debt and lower down payments leave younger shoppers more exposed than others to the impact of rising mortgage rates and record-high home prices,” said Danielle Hale, chief economist for realtor.com^®. “These obstacles won’t prevent millennials from finding and buying homes, but most will have to adapt to these challenging market conditions by adjusting their home search.”

Full results of the surveys are available at:

https://www.realtor.com/research/millennial-buyers-feel-the-brunt-of-rate-and-price-hikes/

Realtor.com^® also recently surveyed house hunters about what they are looking for in a home:

 http://news.move.com/2018-03-30-Rising-Rents-Push-Millennials-to-Become-Homeowners

It also surveyed buyers on about the hotly competitive spring buying season:

http://news.move.com/2018-03-22-Homebuyers-Pull-Out-All-the-Stops-for-Hotly-Competitive-Spring-Market

For more information, please contact:

Janice McDill: janice.mcdill@move.com

Lexie Puckett Holbert: lexie.puckett@move.com

www.realtor.com^®

Commitment to Community: Howard Johnson Partners with the Y

Cynthia Liu

PARSIPPANY, NJ – Millions of local Y members and their families across the U.S. are getting something extra to smile about today thanks to Howard Johnson and its newly launched partnership with YMCA of the USA.

Focused on encouraging families to stay active, make memories and of course, have fun, the partnership centers around Howard Johnson’s new national sponsorship of the 2018 YMCA National Swimming and Diving Championships and gives members the opportunity to save up to 20% off at HoJo hotels across the country, with 5% of every booking benefiting the non-profit.

“The Y is one of the most well-known and respected organizations in the world and three out of every four Howard Johnson hotels are located within just 10 miles of a local  Y branch” said Cynthia Liu, brand leader and vice president of operations for Howard Johnson.

4  “We want to play a bigger role in giving back to the communities where our hotels operate, so finding a partner who not only shared our family-focused values but brought the scale and reach necessary to make a meaningful impact was really important.”

“Howard Johnson and the Y have parallels, particularly when you think about the iconic status of both brands,” said Valerie Barker Waller, senior vice president and chief marketing officer, YMCA of the USA. “We’re proud to have their support behind one of our marquee events and know that the investment they’re making—directly through sponsorship and a donation campaign and indirectly through their member discount—will ultimately enable the Y to continue its  work strengthening communities and building a better us.”

Coinciding with the partnership, Howard Johnson will launch a campaign of new creative and on-property collateral, all with the tagline: “Go Happy. Go Healthy.” 

Valerie Barker Waller

The 2018 YMCA National Swimming and Diving Championships are a series of three, multi-day, multi-city events, which started last week with the YMCA Short Course National Championship at the Greensboro Aquatic Complex in Greensboro, N.C. and continue with stops later this spring and summer at the YMCA National Diving Championship and YMCA Masters Meet in Fort Lauderdale, Fla. and the YMCA Long Course Championship in College Park, Md. 

Combined, the three events bring together over 3,000 student athletes and more than 18,000 spectators. Additional activations between the two brands are expected later this year.

  

For more information, please contact:

Rob Myers

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ 07054

Rob.Myers@wyn.com

wymca.net.

 www.whgdevelopment.com.
www.wyndhamworldwide.com.
Wyndham Hotel Group 
www.hojo.com.
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