Chicago Experiences a Millennial-Fueled Homebuying Boom

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July 01, 2015

Millennials in Chicago are putting down roots by purchasing homes, driving up the metro area’s home prices, The Chicago Tribune reports.

As a result, the Chicago-area is experiencing home sales at levels not seen since the recession. Sales rose 7 percent year-over-year, and the median price is now $222,000, the highest since October 2008.

The Windy City is one of a just a few other areas where Millennials are boosting home sales, because job opportunities and relatively affordable homes there make the path to ownership easier than other markets.

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