Millennials became homeowners later than their parents and grandparents. Here's why.

Millennials have achieved the milestone of becoming the majority homeowner generation, surpassing both their parents and grandparents, although they did so later in life due to more women entering the labor force, delayed marriage, and student loan debt. This has been made more difficult by the lack of housing stock, stubbornly high home prices, volatile mortgage rates, and growing inflation, which saw the average loan for first mortgages reach $323,780 in 2022. Baby boomers, however, have had an advantage due to the equity they have acquired in previous homes.

Which Homes Can You Afford?

Get a list

How Much Is Your Home Worth?

Calculate Now

Continue to full article