Purchase loans among Millennial buyers continued to increase in April, rising to 89 percent of the market share, up from 88 percent in March.
HousingWire reports that while Millennials are targeting smaller, more affordable housing markets in the South and Midwest, such as Dalton, Ga., and Appleton, Wis., the amount of closed loans has increased in bigger, more expensive cities such as New York City and San Francisco.
“This new generation of homebuyers is making its presence felt across the country,” said Joe Tyrrell, Ellie Mae executive vice president of corporate strategy. “Since the beginning of 2016, the percentage of Millennials purchasing homes in the Bay Area has actually increased from 16% to 20%.”
Advertisement
Related Stories
Market Data + Trends
Single-Family Permits Show Increase in February
Year-to-date ending in February, single-family permits were up in all four regions of the U.S.
Single-Family Homes
What Does It Cost to Build a Single-Family Home?
A closer look at the itemized costs in each stage of construction for a single-family home
House Review
4 Single-Family Build-to-Rent Home Designs Offering Comfort and Construction Efficiency
Single-family rentals are popular. Take a look at these detached-home design ideas for the single-family build-to-rent market, one of the fastest-growing segments of single-family construction
