Millennial consumers — those aged 34 and younger — continue to be a force in today’s housing market, accounting for the largest share of recent homebuyers for the second year in a row, according to the 2015 National Association of REALTORS® Home Buyer and Seller Generational Trends study.
More trends from the study:
- The majority of Millennials use a real estate agent to purchase their new home.
- Millennials make up the largest share of first-time buyers.
- Millennials are the most likely generation of buyers to use online tools in their search for a home.
“Over 80 percent of millennial and Gen X buyers consider their home purchase a good financial investment, and the desire to own a home of their own was the top reason given by millennials for their purchase. Fixed monthly payments and the long-term financial stability homeownership can provide are attractive to young adults despite them witnessing the housing downturn and subsequent slow recovery in the early years of their adulthood,” said NAR Chief Economist Lawrence Yun in a news release.
In other headlines:
Are First-Time Buyers Back? – U.S. News & World Report