ServiceLink

Young Buyers Willing To Accept Higher Rates

Posted on by TMN Editor
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, ServiceLink’s State of Homebuying Report, focused on Americans who bought or tried to buy a home in the last four years. Younger buyers also expressed more determination to buy this year, with 63% of Gen Z respondents and 59% of Millennials saying they plan to, compared to 45% of Gen X and 21% of Baby Boomers. Taken together, 47% of all respondents plan to purchase…

Millennials, Gen Z To Play Major Role In 2022 Housing Market

Posted on by TMN Editor
As homebuyer demographics change, Millennials and Gen Z are set to play a major role in the housing market this year, according to a new report from ServiceLink. ServiceLink’s 2022 State of Homebuying Report uses information from 1,000 homeowners who purchased a home in the last five years to analyze generational trends in homebuying. The report found that Millennials and Gen Z are making big moves in the housing market and are open to non-traditional routes to homeownership. “As bidding wars, low inventory and rising interest rates continue to intensify the competition, buyers have had to get creative in order to come out ahead in this challenging real estate market,” said Dave Steinmetz, president of origination services, ServiceLink.  “Our study…