Amid the industry’s doom-and-gloom 2024 forecasts, millennials’ desire to own a piece of the American Dream remains a glimmer of hope for lenders and LOs. Recent research indicates this influential demographic remains focused on their pursuit of homeownership as they start families, move up the corporate ladder and increase their earnings
Take a look at the numbers:
• 89.5% of millennials (25-44) believe they can achieve their dreams of purchasing a home, according to a new survey from Falls & Co., a real estate marketing and research firm.
• Millennials represented the largest share of buyers from 2014-2022, based on National Association of Realtors (NAR) data.
• Millennials topped the list of homebuyers considering purchasing a home or taking out a home equity loan in 2023, according to ServiceLink’s State of Homebuying Report (SOHBR).
For additional insights into this powerful demographic segment, check out TheMReport’s article, “The American Dream Proves Resilient Despite Housing Market Challenges.”