Millennials are buying more homes, ahead in mortgage applications for 2021

Source: CNET — 

The “lost” generation is rising as the new homebuyers. Could this shift the real estate landscape?

Millennials applied for more mortgages than any other generation so far this year. More than half of home purchase mortgage applications (51%) were submitted by those between the ages of 26 and 41, according to a recent analysis by data analytics firm Corelogic.

The report accounts for all mortgage applications, approved or not, from January 2021 to August 2021. Roughly two-thirds of first-time mortgage applicants (67%) and more than one-third of repeat applicants (37%) were millennials, representing a 5% overall increase from 2019. According to the Pew Research Center, the millennial generation includes those born between 1981 and 1996.