Young Americans seemed to be on track to overcome all obstacles and achieve the American Dream of homeownership, but now they’re losing their momentum. That’s according to a new report from Redfin, which found that Gen Z and Millennial homeownership rates were essentially unchanged from 2023 to 2024. Just about a quarter of Gen Zers…
The generational real estate showdown is still underway, and the latest battleground is large homes. A new report from Redfin found that Baby Boomers with empty nests own 28% of the nation’s large homes, while Millennials with kids own just 14%. This a huge turnaround in the last ten years, as a decade ago, younger…
Despite being the largest cohort of potential homebuyers in the country, Millennials are lagging behind other generations in purchases. That applies to Baby Boomers now – who are snatching up the few homes for sale thanks to home equity and greater savings – and Boomers when they were the same age as Millennials today. Just…
Mortgage applications fell for a fourth consecutive week, even as rates retreated from near-7% highs. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – decreased by 1.4%. Adjusted purchase applications fell by 2%, while the unadjusted index was down 13% from the week…
Mortgage applications reversed after a month of increases despite declining rates, a rocky start to the typically robust spring buying season. The Mortgage Bankers Association’s weekly survey says the adjusted Market Composite Index – a measure of mortgage loan application volume – decreased by 4.1%. Adjusted purchase applications dropped by 4%, while the unadjusted index…
Housing affordability is a bigger deal to Americans than the possibility of a recession, according to a new survey by Personal Capital. The survey found that 1 in 4 people have decided to put off buying a home “indefinitely.” Rising mortgage interest rates were the number one concern of respondents, despite the fact that more…
Seller-buyers are making a splash this spring, with 72% of home sellers also planning to buy their next one this year, according to a new survey from Realtor.com. Realtor partnered with HarrisX to survey homeowners nationwide. The results showed a market flooded with younger seller-buyers looking for more affordable homes to accommodate growing families. Millennials…
Despite challenging conditions for first-time homebuyers, Millennials are actively engaging in the housing market, especially in the nation’s largest metros, according to a new analysis from LendingTree. The analysis found that Millennials– people aged 25 to 40 in 2021– make up a majority of homebuyers in most of the US’s largest metros, especially Denver, Seattle,…
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