May 18, 2017 // 2017 Market News Market Trends Millennials Real Estate

Millennials Moving Market

Recent reports from a variety of sources suggest that the massive purchasing power of millennials is now being felt in the housing market. True to form, they’re being careful with their money. These numbers from January 2017 tell the story. During that month:

 

    • 84% of closed loans went to millennials (Ellie Mae).

 

    • 65% of first-time home buyers had a down payment of less than 6% (Down Payment Resource).

 

    • 62% of all home buyers put less than 20% down (Down Payment Resource).

    • 35% of loans to millennials were FHA loans (Ellie Mae).

Meet the Author

Marie Villa

Marie Villa

Marie Villa is the Digital Marketing Intern at WK Real Estate. With a passion for technology and social media, she is happy to assist agents in expanding their networks and navigating through the digital world.


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