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Who Says Millennials are not Buying Houses?

April 1, 2014 12:30 pm

Millennials Moving InWe have often gone against the grain to promote the fact that Millennials have a stronger belief in homeownership than previous generations. Some have strongly disagreed. Well, a new study from the National Association of Realtors (NAR) found Millennials now account for the greatest market share of recent home purchases. NAR’s Home Buyer and Seller Generational Trends Study for 2014, revealed that Millennials comprised 31 percent of recent purchases, leading all other age groups. Here are the percentages for other generations:
  • 30% - Generation X
  • 30% - Boomer Generation
  • 9% - Silent Generation
NAR chief economist Lawrence Yun explained: “Given that Millennials are the largest generation in history after the baby boomers, it means there is a potential for strong underlying demand. Moreover, their aspiration and the long-term investment aspect to owning a home remain solid among young people.”