Homeowner Headquarters

How to's and money-saving tips from resident homeowner and mortgage professional, Cathy West

Report says millennials are picking up homeownership rates

Millennials may be buying homes at lower rates this year, but they are still actively involved in the markets. According to a recent Fannie Mae report cited by NewsMax, while the number of millennial homeowners has dropped by over 250,000 every year from 2007 and 2012, it has improved to under 100,000 per year from 2013 to 2015. Furthermore, the report showed that the decline actually dropped to a point of statistical insignificance, a clear indication that the housing market is improving.

The downward trend expected to reverse
While millennials are buying less homes, the increasing numbers over the last two years suggest that the trend will reverse. According to the report, there is reason to believe in positive growth for millennial homeowners in 2016.

Why millennials will turn to the markets
NewsMax also cited a report by Goldman Sachs, millennials are also seeking to leave their parents' households. According to the research, the report showed that the demand for homes among millennials is up, with 70 percent listing homeownership as an "important" goal, while only 12 percent deem homeownership as "not important." Meanwhile, only 20 percent of existing homeowners among millennials were not interested in buying a home at all in the near future.

Related posts:

Leave a Reply

Your email address will not be published. Required fields are marked *