Prepping Millennial Homebuyers for Getting a Mortgage
According to the American Community and American Housing surveys, there are 66 million Millennials in the U.S., which represents the country’s largest generation by population.
Consider these statistics:
- Millennials are the fastest-growing segment of homebuyers, accounting for 37 percent of the overall U.S. housing market.
- Millennials make up an even bigger share of first-time homebuyers. In all, 82 percent of younger millennial buyers (ages 22-30) and 48 percent of older millennial buyers (31-40) purchased their first homes between July 2019 and July 2020.
- The National Association of Realtors estimates that 99 percent of Millennials use the internet during their homebuying process.
They are primed and ready to purchase a home, but often lack the knowledge of how to start and what to expect. We have some great informational tools to assist you with understanding how to reach and guide them through the homebuying process.