Weekly Real Estate News
Source: Bankrate —
Key millennial homebuying statistics in 2022
- Millennials represent 43 percent of homebuyers, the highest share of any generation, according to the National Association of Realtors (NAR). One-quarter of that group are older millennials aged 32 to 41, while 18 percent are younger millennials aged 23 to 31.
- Eighty-one percent of younger millennial homebuyers purchased for the first time, compared to 48 percent of older millennial buyers, according to NAR.
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You didn’t mention what I consider to be the biggest factor that made Millennials buy later. They saw their family struggle and lose their homes during the meltdown. It took a while before they were able to see that home ownership was a good thing.