Are Millenials About To Make A Homeownership Move?


Real Estate Finance Insights

Millenial HomebuyersCall them the prodigal millennials: Statistical measures and anecdotal reports suggest that young couples and singles in their late 20s and early 30s have begun making a belated entry into the home buying market, pushed by mortgage rates in the mid-3 percent range, government efforts to ease credit requirements and deep frustrations at having to pay rising rents without creating equity.

Listen to Kathleen Hart, who just bought a condo unit with her husband, Devin Wall, which looks out on the Columbia River in Wenatchee, Washington: “We were just tired of renting, tired of sharing (housing) with roommates, and not having a place of our own. Finally the numbers added up.” Redfin, a national real estate brokerage, said that first-time buyers accounted for 57 percent of home tours conducted by its agents mid-month — the highest rate in recent years. Home-purchase education class requests, typically dominated by first-timers, have jumped…

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