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The cost of a home is at an all-time high in the United States. According to the National Association of REALTORS®, the median home price increased by 15% from last year.

But how exactly is this housing market impacting millennials and Gen-Z? Millennials are currently the largest generation in terms of population size in the country. The median age of a homebuyer was 45 this year, compared to 31 in 1981. As homebuyers get older and older, other milestones, such as having kids, getting married and retiring, also end up getting pushed back.