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Millennials Are Planning to Buy


Millennials Are Planning to Buy

July 25, 2018
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Photo: Pixabay

A recent Housing Trends Report from the NAHB Economic team found that Millennials are most likely to buy a home in the next year.

The results, from the second quarter of 2018, found that 14 percent of adults plan to buy a home in the next 12 months. Broken down by generation, 22 percent of Millennials plan to buy a home in the next year, compared to 14 percent of Gen Xers, 8 percent of Baby Boomers, and 3 percent of Seniors.

In addition, 77 percent of Millennials planning to buy a house would be first time homebuyers, compared to 61 percent overall. Thirty-nine percent of respondents said they are looking to buy an existing home, while 21 percent are looking for a newly-built home and 40 percent are looking at both types.

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