Real Estate

[Infographic] 7 facts about potential homeowners waiting on the sidelines

MGIC: Even Millennials want to own a home

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.

A new infographic from MGIC (MTG) gives seven useful facts about renters, including the two listed above.

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

infographic

(Source: MGIC)

3d rendering of a row of luxury townhouses along a street

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