Millennial Home Buying Trends «2024»

: Over 50% cited the desire for a larger home as their primary motivator . This is heavily driven by delayed family formation and raising children .

: Builders have historically focused on more profitable, larger luxury assets, leaving a massive supply deficit for entry-level buyers . 🏠 What Millennials Want in a Home Millennials are buying more homes than you might think millennial home buying trends

: An overwhelming 74% of millennials still view homeownership as a core component of the American Dream . : Over 50% cited the desire for a

Younger Millennials (ages 29–35) make up the bulk of first-time buyers . 🏠 What Millennials Want in a Home Millennials

: Stubbornly high home prices and mortgage rates hovering in the 6% to 7% range have crippled purchasing power .

: Millennials carry massive student loan burdens . Those with student loans take an average of seven years longer to buy a home than those without .

The following scannable report outlines the current trends, motivations, barriers, and property preferences defining the millennial home buying journey. 📊 Market Share & Demographics