As they enter their early 30’s, millennials are turning their attention to the housing market and they’re ready to buy! Because of their large size – they’ve passed baby boomers as the largest living generation in the United States – millennials have long been predicted to have a huge impact on the housing market. They only question has been: are they interested in owning a home?
The answer appears to be Yes!
Existing=home sales jumped nearly 25 percent in July with first-time buyers making up 34 percent of that group. And most mst millennials are first-time buyers.
Of course, it doesn’t hurt that interest rates remain below 3 percent.