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Millennials most active homebuying generation for fifth consecutive yearMillennials most active homebuying generation for fifth consecutive yearhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=194892018-03-20T05:00:00Z2018-03-20T15:00:00Z

​​WASHINGTON – More than a third of all homes were bought by millennials last year, keeping them as the most active generation of homebuyers for the fifth year in a row.  

According to the National Association of Realtors 2018 Homebuyer and Seller Generational Trends study, 36 percent of purchases were made by millennials, up 2 percent from the year before. Gen X buyers ranked second (26 percent), followed by younger (18 percent) and older baby boomers (14 percent). ​​The Silent Generation held the smallest part of the pie at 6 percent. 

The survey found that millennial buyers prioritize ​​​​​​living close to friends and family over a home's proximity to schools. An overwhelming majority used a real estate agent to buy or sell a home.

The typical millennial buyer last year had a higher household income ($88,200) than a year ago ($82,000). They purchased the same-sized home (1,800 sf) at a more expensive price ($220,000, up from $205,000). ​

Millennials​​ also had higher student debt balances than in last year's survey. Slightly more of them said saving for a down payment was the hardest part of the homebuying process.​

National Association of Realtors®
U.S.
Demographics & Population
https://www.nar.realtor/newsroom/millennials-lead-all-homebuyers-even-as-some-can-t-escape-their-parentsRead more at {Source}

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