Millennial Homeownership Up, Inventory Woes Persist

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Posted To: MND NewsWire

Millennials are picking up the pace of moving into homeownership, but the National Association of Realtors® (NAR) says not all are finding a way. Its 2018 Home Buyer and Seller Generational Trends study found that inventory constraints and higher housing costs have prevented some from leaving the more affordable confines of their parents’ homes. The study evaluates the generational differences of recent home buyers and sellers and found that slightly more than a third of home purchases over the last year, 36 percent, were made by Millennials, an increase from 34 percent in 2017, making them the most active generation of buyers for the fifth year . Gen X buyers accounted for 26 percent of sales, baby boomers for 32 percent, and the silent generation, those born between 1925 and 1945, 6 percent…(read more)

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