Many renters are ready and want to become homeowners. Right now, 32% of potential homebuyers plan to buy in the next two years, and 89% of renters think owning a home is part of the American Dream.
realtor.com Chief Economist Jonathan Smoke recently argued Millennials are not any different than previous generations in homebuying.
Almost 65% of Millennials aged 21 to 34 looked at real estate websites and apps in August, according to realtor.com analysis of data from comScore and current population estimates.
MGIC added that a majority of young renters would like to be homeowners, which makes reaching them an important opportunity for mortgage professionals.
Click to enlarge