Source: Motley Fool —
Key Points
- Millennials now outnumber baby boomers and account for more than half of new mortgage applications.
- Gen X was the biggest buyer just five years ago but has seen its share slip ever since.
- High-tech markets and some major mid-sized metros have the highest shares, with a few Florida markets bringing up the rear.
The children now outnumber the parents, and that’s having an impact on the residential housing market in America.
Millennials, people born between 1981 and 1996, now number 72.26 million in the U.S. population, according to a new Statista report; while baby boomers, born between 1946 and 1964, have slipped to 70.68 million.
That makes millennials the largest of our generations, and with ages ranging from 25 to 40, they’re also in their prime homebuying years.
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