Millennials Are Buying Homes in Droves—Just Not Where You’d Expect

Source: Time

While there has been plenty of media attention about the lack of home-buying activity among the millennial generation, a recent analysis of home sale data performed by Realtor.com® and reported by Bloomberg shows that in many U.S. cities, millennials make up half or more of home purchasers and a large number of them are first-time buyers. They are just buying homes in less glamorous places than where the media has asserted the younger generation wants to live. For example, millennials—those between the ages of 25 and 34—accounted for nearly 60 percent those who took out a mortgage to buy a home in the first half of 2015 in Des Moines, Iowa. They accounted for 45 percent or more in places like Provo, Utah; Madison, Wisc.; Grand Rapids, Mich.; and New Orleans.
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