By CHUCK GREEN Regrets? Surely, most Millennials have had at least a few. But a majority of them who have purchased homes say they are disappointed with their choices. And, nope, it’s not because they couldn’t find a welcome mat that looked just right. If only. According to a survey by Real Estate Witch, Millennials…
Urban living is taking a back seat to spacious suburbs for both parent-aged Millennials and affordability-minded Zoomers. A recent report from StorageCafe found that housing markets in exurbs and suburbs grew faster than in principal cities over the last decade, so fast that typical life changes in the largest homebuying cohort, Millennials, can’t account for…
More mortgages are being taken out by Millennial and Gen Z buyers than their older counterparts, a trend boosted by Zoomers’ thirst for homeownership. A new analysis from Redfin found that two in five — just shy of 40% — of new mortgages issued in 2023 went to homebuyers under 35, while an additional 26.5%…
With home prices soaring out of reach and rates hot, Americans are doing whatever they can to lower their monthly payments, according to a series of new reports from Redfin. The typical monthly housing payment hit a record high of $2,721 in the four weeks ending March 24, up 10% YOY. A combination of prices…
Young homebuyers tolerate high mortgage rates better than their older counterparts. Gen Z and Millennial respondents to a new survey say they will accept rates as high as 6.3% and 6.2%, respectively, in order to buy a home in 2024. Gen X and Baby Boomers, in comparison, won’t accept any rate above 6%. The survey,…
Young Americans’ homebuying outlook just keeps getting worse. Almost one in five Millennials (18%) and 12% of Gen Z respondents to a Redfin survey believe they will never be able to own a home. They overwhelmingly see affordability as their primary barrier, with half citing high prices as their biggest concern. Just under half of…
By KIMBERLEY HAAS Addressing affordability issues by allowing for creative living solutions may be the key to getting more Millennials into homeownership. According to the 2023 Home Buyers and Sellers Generational Trends Report published by the National Association of Realtors, the share of Millennial buyers has declined. Millennials between 24 and 42 years old made…
Co-buying has gained popularity as Americans search for ways to afford a home. But for all its benefits, it also comes at a cost. A new survey from LendingTree found that 29% of Americans would consider co-buying a home with someone other than a spouse or significant other. That number varies by generation, broken down…
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…
Gen Z is proving that young Americans want to be homeowners and are willing to prioritize it. According to new Redfin data, Gen Z is ahead of Millennials when it comes to homeownership, with 37% of Gen Z respondents already owning a home or planning to purchase one within the next five years. Only 32%…
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