According to a recent report from the National Association of REALTORS®, millennials accounted for more than a third, 36 percent, of all home purchases in the past year. Eighty-six percent of millennials also believe that buying a home is a good financial investment. However, tight inventory and higher housing costs have kept many young potential buyers out of the market. Student loan debt, which millennials reported a higher balance of this year, is also making saving for a down payment difficult.
Review NAR’s 2018 Home Buyer and Seller Generational Trends Report for more information on the home buying and selling habits of millennials. Talk to a millennial homebuyer about challenges they faced buying a house. Speak with a REALTORS® about the number of millennial homebuyers they have worked with recently.