Millennials are ready to buy homes in Raleigh, but the struggle is real

The Triangle's real estate market is hot, and now there's a new kind of buyer entering the picture - millennials.

Born between 1981 and 1996, millennials are out of school, finding jobs, and some are ready to stop renting. Realtors say they're also changing the way the market works.

Brittani Procknow, 25, moved to North Carolina a few years ago and is ready to put down roots.

"I was like, you know what, it's a great investment. It's something that I want, and after moving here, I want like a sense of belonging. So, buying a house would totally be that for me," she said.

But months of looking at listings and offer after offer...nothing.

"The first time it was disappointing, the second time it was frustrating," Procknow said. "Be prepared. It's like the Hunger Games out there."

Ryan Fitzgerald of Raleigh Realty said he's never seen the market quite his hot.

"Three years ago, it was crazy. Now imagine it with 50 percent less inventory and 50 percent more buyers," he said.

Fitzgerald said 60 percent of the market right now is millennials.

"You need to come in $5,000, $10,000, $15,000 over asking price just to have a chance," he said. "If you're not willing to be decisive and act fast, if you're not willing to go all in, you're probably not going to end up getting it."

Millennials are moving in fast and buying homes even faster.

"Literally, it hits the market and it's gone – five minutes," Fitzgerald said. "You need to come in strong, real strong, in order to even have a chance."

Procknow said, despite the hot market, she's determined to find her dream home.

"You got to get back on the horse and keep on going until you find the right one," she said.

Fitzgerald says he also recommends first-time buyers write a letter to sellers. Sometimes more than anything, the process can be based of emotion, and sometimes that letter will help a buyer land the home.