Millennials Are Largest Share of Homebuyers

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August 06, 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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