Why Millennials are driving the housing market

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November 17, 2014

“The narrative of Millennials not forming households and not buying homes is stale and overplayed,” writes NAR chief economist Jonathan Smoke.
 
Millennials are moving up, Smoke says, and in the summer of 2014 alone, this age cohort made up nearly 30 percent of buyers and represented the largest group of serious shoppers in the housing market. Moreover, more Millennials are starting families, and even though many have a large amount of student debt, this generation is also the most educated generation, which opens up many job opportunities and more upward mobility.
 
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