Millennials are the largest segment of homebuyers, at 34 percent of the market, so they have gotten the most attention from lenders. But a few other groups are flexing their buying power as well.
HousingWire reports that single women, Hispanics, and people belonging to Generation X are being overlooked.
Single women (17 percent of all buyers) buy homes at twice the rate of single men, and Hispanic buyers account for nearly half of all first-time homebuyers. Gen Xers have a 28 percent share of the housing market and often buy the largest and most expensive homes.
“Many of these individuals would welcome seminars on what’s required to buy a home and the benefits of homeownership,” said Arch MI Senior Vice President and Chief Marketing Officer Jim Jumpe. “Saving for a down payment is a challenge for nearly all renters, not just Millennials.”
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