Millennials Are Largest Share of Homebuyers

August 6, 2015

The housing industry continues to try to figure out the homebuying plans of the generation of young adults that was hit hardest by the recession.

A U.S. News report says that Millennials — defined here as people between the ages of 25 and 34 — make up the largest share of homebuyers at 32 percent and that 68 percent of first-time home buyers are Millennials.

The group is less content with renting and living at home than previously thought. According to a survey of more than 1,000 adults by TD Bank, nearly half of Millennials are looking to buy a home within two years.

U.S. News lists a few tips for potential home owners, including that it is smart to buy a home on the outer edges of what buyers can afford so that they can grow into the house as their incomes rise.

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