Long thought to be a generation lost to homeownership – or at least, not near as enthused or enamored of homeownership – Millennial generation is starting to warm to the idea of a place of their own.
Realtor.com Chief Economist Jonathan Smoke, who was saying a year ago that it is foolish to think Millennials are any different than other generations, has written an open letter welcoming them aboard, because they are doing exactly as he predicted.
Dear Millennial Future Home Buyer:Sponsor Content
This is shaping up as your year! Congratulations. You and your older siblings are jumping into the housing market en masse. And it’s happening for all sorts of reasons, including the fact that you’re getting older and wiser.
Approximately 43 million of you are 25 to 34 now. (Hey, where did the time go?) That’s the age when Americans typically buy their first homes, and we expect nothing less of you. You and your cohorts outnumbered all other age groups of home buyers last year—even though not as many of you were buying as usual in a healthy economy.
So it is no surprise to us that in June you officially became the age group most likely to purchase a home this year.
Click here for the full letter and story.