[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f16wuqp531mtpe":3,"$ffeh0925h8cuz":43,"$fbwk2pqjjqsc7":47},{"item":4,"previous":31,"next":37},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":30},3571,"more-young-people-are-buying-homes","More Young People Are Buying Homes","There’s a common misconception that younger generations aren’t interested in homeownership. Many people point to the fact that millennials put off purchasing their first home as a reason for this belief.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F08\u002F18104737\u002F20210819-KCM-Share.jpg","There’s a common misconception that younger generations aren’t interested in homeownership. Many people point to the fact that millennials put off purchasing their first home as a reason for this belief.\u003C!--more-->\r\n\r\nOdeta Kushi, Deputy Chief Economist for \u003Cem>First American\u003C\u002Fem>, \u003Ca href=\"https:\u002F\u002Fblog.firstam.com\u002Feconomics\u002Fpandemic-accelerated-roaring-20s-of-millennial-homeownership-demand\">explains\u003C\u002Fa> why millennials have put off certain milestones linked to homeownership. Those delays led to their homeownership rates trailing slightly behind older generations:\r\n\u003Cblockquote>\u003Cem>“\u003Cstrong>Historically, millennials have delayed the critical lifestyle choices often\u003C\u002Fstrong> \u003Cstrong>linked to buying a first home, \u003C\u002Fstrong>including getting married and having children, in order to further their education\u003Cstrong>. This is clear in cross-generational comparisons of homeownership rates which show millennials lagging their generational predecessors.”\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fblockquote>\r\nSo, it’s partially true that \u003Cstrong>some millennials \u003Cem>have waited \u003C\u002Fem>on\u003C\u002Fstrong> \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F07\u002F07\u002Fthe-truths-young-homebuyers-need-to-hear\u002F\">\u003Cstrong>homeownership\u003C\u002Fstrong>\u003C\u002Fa>\u003Cstrong> to focus on other things in their lives\u003C\u002Fstrong> – and that’s impacting certain housing market trends.\r\n\r\nData from the \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fnewsroom\u002Fpandemic-caused-buyers-to-seek-multi-generational-homes-sellers-to-sell-faster\">\u003Cem>National Association of Realtors\u003C\u002Fem>\u003C\u002Fa> (NAR) indicates \u003Cstrong>the average age of a first-time homebuyer is higher today than it’s been over the past 40 years\u003C\u002Fstrong>. As the graph below shows, homebuyers today are purchasing their first home\u003Cstrong> an average of\u003C\u002Fstrong> \u003Cstrong>4 years later \u003C\u002Fstrong>than people in the 1980s and early 1990s:\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F08\u002F18104739\u002F20210819-MEM-Eng-1.png\">\u003Cimg class=\"aligncenter wp-image-44978\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F08\u002F18104739\u002F20210819-MEM-Eng-1.png\" alt=\"More Young People Are Buying Homes | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>But just because millennials are hitting certain milestones later in life \u003Cstrong>doesn’t mean they’re not interested in becoming homeowners\u003C\u002Fstrong>. The recent \u003Ca href=\"https:\u002F\u002Fwww.census.gov\u002Fhousing\u002Fhvs\u002Ffiles\u002Fcurrenthvspress.pdf\">U.S. Census\u003C\u002Fa> reveals a significant \u003Cstrong>increase in \u003C\u002Fstrong>\u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F02\u002F11\u002F47-of-new-buyers-surprised-by-how-affordable-homes-are-today\u002F\">\u003Cstrong>homeownership rates\u003C\u002Fstrong>\u003C\u002Fa>\u003Cstrong> for millennials and other young homebuyers\u003C\u002Fstrong>.\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F08\u002F18104741\u002F20210819-MEM-Eng-2.png\">\u003Cimg class=\"aligncenter wp-image-44979\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F08\u002F18104741\u002F20210819-MEM-Eng-2.png\" alt=\"More Young People Are Buying Homes | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>As the graph above shows, millennials are entering the market in full force, and their share of the market is growing. Based on the data, \u003Cstrong>the belief that younger generations don’t want to buy homes is a misconception. \u003C\u002Fstrong>In fact, the recent \u003Ca href=\"https:\u002F\u002Folui2.fs.ml.com\u002FPublish\u002FContent\u002Fapplication\u002Fpdf\u002FGWMOL\u002FCMO_4-26-21_Merrill.pdf\">\u003Cem>Capital Market Outlook\u003C\u002Fem>\u003C\u002Fa> report from \u003Cem>Merrill-Lynch\u003C\u002Fem> further drives home this point, as it specifically mentions the effect millennials are having on demand:\r\n\u003Cblockquote>\u003Cem>“Demand is very strong because the \u003Cstrong>biggest demographic cohort in history is moving through the household-formation and peak home-buying stages of its life cycle\u003C\u002Fstrong>.\"\u003C\u002Fem>\u003C\u002Fblockquote>\r\nKushi is following the trend of millennial homeownership and puts it more simply, \u003Ca href=\"https:\u002F\u002Ftwitter.com\u002Fodetakushi\u002Fstatus\u002F1420030874872074252\">saying\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“. . . \u003Cstrong>it's clear that younger households (millennials!) are driving homeownership growth\u003C\u002Fstrong>.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nAs the largest generation, millennials’ impact on the market is growing as more and more people from that generation reach homebuying age – and Generation Z isn’t far behind, either. That means younger generations will likely continue to \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F07\u002F15\u002Fdiving-deep-into-todays-biggest-buyer-concerns\u002F\">drive demand\u003C\u002Fa> in the housing market for years to come.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you're a member of a younger generation and interested in purchasing a home, you're not \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F06\u002F25\u002Fhomebuyers-hang-in-there-infographic\u002F\">alone\u003C\u002Fa>. Many of your peers are on their path to homeownership, too. Let's connect today and discuss what you can do to accomplish your \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F08\u002F02\u002Fkey-questions-to-ask-yourself-before-buying-a-home\u002F\">homebuying goals\u003C\u002Fa>.","\r\nIf you're a member of a younger generation and interested in purchasing a home, you're not \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F06\u002F25\u002Fhomebuyers-hang-in-there-infographic\u002F\">alone\u003C\u002Fa>. Many of your peers are on their path to homeownership, too. Let's connect today and discuss what you can do to accomplish your \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F08\u002F02\u002Fkey-questions-to-ask-yourself-before-buying-a-home\u002F\">homebuying goals\u003C\u002Fa>.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F08\u002F18104739\u002F20210819-MEM-Eng-1.png",false,[17,21,25],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},53,"Rent vs. Buy","rent-vs-buy","2021-08-19T10:00:07Z","2021-10-04T18:04:55Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},3570,"real-estate-its-still-a-lack-of-supply-not-a-lack-of-demand","Real Estate: It’s Still a Lack of Supply, Not a Lack of Demand","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F08\u002F17115231\u002F20210818-KCM-Share.jpg","2021-08-18T10:00:02Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},3578,"options-for-first-time-homebuyers-infographic","Options for First-Time Homebuyers [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F08\u002F19144456\u002F20210820-KCM-Share.png","2021-08-20T10:00:59Z",{"cover":44,"open":45,"shareSpread":46},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[48,52,53,57,61,65,69,70,74,78,82,86,90,94,98,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155],{"id":49,"name":50,"slug":51},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":54,"name":55,"slug":56},6,"For Sellers","sellers",{"id":58,"name":59,"slug":60},7,"Foreclosures","foreclosures",{"id":62,"name":63,"slug":64},8,"Infographics","infographics",{"id":66,"name":67,"slug":68},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":71,"name":72,"slug":73},34,"Senior Market","senior-market",{"id":75,"name":76,"slug":77},35,"Mortgage Rates","mortgage-rates",{"id":79,"name":80,"slug":81},38,"Move-Up","move-up",{"id":83,"name":84,"slug":85},41,"For Sale by Owner","for-sale-by-owner",{"id":87,"name":88,"slug":89},42,"Featured","featured",{"id":91,"name":92,"slug":93},45,"New Construction","new-construction",{"id":95,"name":96,"slug":97},52,"Luxury \u002F Vacation","luxury--vacation",{"id":26,"name":27,"slug":28},{"id":100,"name":101,"slug":102},80,"Time-sensitive","time-sensitive",{"id":104,"name":105,"slug":106},81,"Outdated","outdated",{"id":108,"name":109,"slug":110},147,"Internal","internal",{"id":112,"name":113,"slug":114},148,"Do Not Autopost","do-not-autopost",{"id":116,"name":117,"slug":118},320,"Inventory","inventory",{"id":120,"name":121,"slug":122},321,"Agent Value","agent-value",{"id":124,"name":125,"slug":126},322,"Affordability","affordability",{"id":128,"name":129,"slug":130},323,"Buying Tips","buying-tips",{"id":132,"name":133,"slug":134},324,"Downsize","downsize",{"id":136,"name":137,"slug":138},325,"Economy","economy",{"id":140,"name":141,"slug":142},326,"Equity","equity",{"id":144,"name":145,"slug":146},327,"Forecasts","forecasts",{"id":148,"name":149,"slug":150},328,"Selling Tips","selling-tips",{"id":152,"name":153,"slug":154},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":156,"name":157,"slug":158},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]