By and large the Millennial generation has been iffy when it comes to purchasing real estate. As a group, this generation is known to be saddled with student loan debt, they have seen market highs and lows, and they have just generally taken a laissez faire approach to real estate. Well, the Millennial tides are turning and they are beginning to purchase homes.
In its article “Millennials fuel housing market recovery,” TheRealDeal.com states that this generation “accounts for more than half of all new home loan applications, as it has since last year,” and, “According to the National Association of Realtors, millennials accounted for 38 percent of all homebuyers in the year ending last July, an increase from 32 percent in 2015.”
Millennials are now the most populous generation in the United States, even surpassing their parents, the Baby Boomers, so this home buying trend should certainly keep the market busy for years to come. I love those Millennials and I cannot wait to help them buy homes!