In a recent article on Realtor.com, author Jonathon Smoke argues that Millennials, people born between 1981 and 2000, are driving the current housing market. Millennials make up about 90 million people, the largest generation living at this time. Storm believes that Millennials are just beginning to purchase homes and the sheer number of them will drive the market.
1. Millennials are Starting Families. 86% of Millennial home shoppers say they are buying a home due to a change of family size and composition. They also say that a stable or improving income helped trigger the decision to buy a home.
2. Millennials Make Up 20 Million Households. 14% of home sellers this year were Millennials. This summer, 30% of home buyers were Millennials. This age…
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