Millennial Who? Millennial Homeowner, That’s Who
Who’s the landlord now?
Millennials have long been held under the stigma that their generation has put a halt to numerous products and industries– one of them being the housing market.
But it seems as millennials age (and gain more income) their priorities have shifted – gasp! A new Bank of America study found that 72% of millennials consider homeownership to be their number one goal.
And it seems as though they’re well on their way. Ernst & Young data has shown that within the last two years, millennial homeowners between the ages of 28 and 31 have increased from 27% to 47%.
The top three cities millennials seems to be moving to are: Salt Lake City with 51% of millennial homebuyers and Minneapolis and Pittsburg with 48%. While Tampa, Fla., Las Vegas, and Miami are seeing less requests for millennial home purchasing.