There’s a common misconception that younger generations aren’t interested in homeownership. Many people point to the fact that millennials put off purchasing their first home as a reason for this belief.
Odeta Kushi, Deputy Chief Economist for First American, explains why millennials have put off certain milestones linked to homeownership. Those delays led to their homeownership rates trailing slightly behind older generations:
“Historically, millennials have delayed the critical lifestyle choices often linked to buying a first home, including getting married and having children, in order to further their education. This is clear in cross-generational comparisons of homeownership rates which show millennials lagging their generational predecessors.”
So, it’s partially true that some millennials have waited on homeownership to focus on other things in their lives – and that’s impacting certain housing market trends.
Data from the National Association of Realtors (NAR) indicates the average age of a first-time homebuyer is higher today than it’s been over the past 40 years. As the graph below shows, homebuyers today are purchasing their first home an average of 4 years later than people in the 1980s and early 1990s:But just because millennials are hitting certain milestones later in life doesn’t mean they’re not interested in becoming homeowners. The recent U.S. Census reveals a significant increase in homeownership rates for millennials and other young homebuyers.As the graph above shows, millennials are entering the market in full force, and their share of the market is growing. Based on the data, the belief that younger generations don’t want to buy homes is a misconception. In fact, the recent Capital Market Outlook report from Merrill-Lynch further drives home this point, as it specifically mentions the effect millennials are having on demand:
“Demand is very strong because the biggest demographic cohort in history is moving through the household-formation and peak home-buying stages of its life cycle.”
Kushi is following the trend of millennial homeownership and puts it more simply, saying:
“. . . it’s clear that younger households (millennials!) are driving homeownership growth.”
As the largest generation, millennials’ impact on the market is growing as more and more people from that generation reach homebuying age – and Generation Z isn’t far behind, either. That means younger generations will likely continue to drive demand in the housing market for years to come.
Bottom Line
If you’re a member of a younger generation and interested in purchasing a home, you’re not alone. Many of your peers are on their path to homeownership, too. Let’s connect today and discuss what you can do to accomplish your homebuying goals.
Pingback: ivermectin 1%cream
Pingback: ivermectin 90 mg
Pingback: tadalafil dosages
Pingback: viagra for women
Pingback: sildenafil generic over the counter
Pingback: ivermectin where to find
Pingback: does ivermectin work
Pingback: combivent canada
Pingback: flccc ivermectin
Pingback: flccc ivermectin
Pingback: imask protocol flccc
Pingback: ivermectin 6 tablet
Pingback: ivermectin buy nz
Pingback: ivermectin cream
Pingback: stromectol drug
Pingback: ivermectin cream
Pingback: stromectol covid
Pingback: stromectol price us
Pingback: ivermectin 1 cream 45gm
Pingback: where can i buy ivermectin
Pingback: purchase ivermectin
Pingback: ivermectin tablets for humans
Pingback: ivermectin kaufen
Pingback: ivermectin australia
Pingback: how much does ivermectin cost
Pingback: ignition casino code
Pingback: ivermectin treatment for covid
Pingback: cialis professional
Pingback: brand prednisone 20mg
Pingback: cialis walmart
Pingback: best tadalafil
Pingback: provigil online paypal
Pingback: ivermectin 2mg
Pingback: stromectol 6 mg dosage
Pingback: viagra generic name
Pingback: cost of generic cialis
Pingback: where to buy viagra
Pingback: cost of stromectol
Pingback: how to get cialis pills
Pingback: cialis from canada
Pingback: tadalafil india
Pingback: sildenafil pills for men
Pingback: can you buy cialis safely online
Pingback: buy generic cialis
Pingback: tadalafil prescription us
Pingback: ivermectin human dosage
Pingback: how to buy sildenafil tablets
Pingback: what is cialis
Pingback: tadala
Pingback: can i buy cialis in mexico
Pingback: buying prednisone online
Pingback: how much does prednisone 20mg cost
Pingback: tadalafil 5mg prescription
Pingback: what is molnupiravir
Pingback: cost of cialis prescription
Pingback: generic cialis online purchase
Pingback: cheap cialis india
Pingback: stromectol 0.5 mg
Pingback: cost of generic viagra
Pingback: steroid side effects
Pingback: tadalafil and dapoxetine
Pingback: free online gambling for real money
Pingback: sildenafil goodrx
Pingback: cialis for men
Pingback: borgata free online casino
Pingback: ivermectin 90 mg
Pingback: cialis goodrx
Pingback: ivermectin buy australia
Pingback: casino online usa
Pingback: generic viagra
Pingback: cialis price
Pingback: cialis without a doctor prescription
Pingback: ivermectin in humans
Pingback: cialis no prescription
Pingback: ivermectin manufacturers
Pingback: buy cialis online no prescription usa
Pingback: ivermectin at tractor supply
Pingback: stromectol tablet 3 mg
Pingback: stromectol buy
Pingback: ivermectin from india
Pingback: ivermectin purchasing
Pingback: furosemide cream
Pingback: lasix online order
Pingback: ivermectin buy canada
Pingback: ivermectin cost australia
Pingback: ivermectin tablets for humans for sale
Pingback: stromectol for head lice
Pingback: ivermectin 5
Pingback: lucky land casino slot
Pingback: stromectol 0.5 mg
Pingback: cheap doxycycline tablets
Pingback: stromectol cvs
Pingback: ivermectin tablets walmart
Pingback: ivermectin tractor supply
Pingback: purchase ivermectin
Pingback: buy ivermectin uk
Pingback: stromectol tablets
Pingback: ivermectin 8000 mcg
Pingback: cheap generic cialis from india
Pingback: ivermectin ingredients for humans
Pingback: stromectol pills
Pingback: use of ivermectin
Pingback: ivermectin 0.5
Pingback: ivermectin 200mg
Pingback: stromectol uk