Many have been wondering when the much anticipates move by Millennials' into homeownership would actually take place. We know the belief in owning a home is there.
According to a recent Merrill Lynch study, eighty one percent of Millennials believe "homeownership is an important part of the American Dream." This compares favorably to previous generations.
The obstacle seemed to be employment, but it appears that is about to change.
The most recent jobs report disappointed many economists. However, the silver lining in that could of doubt was Millennials. Jonathan Smoke, realtor.com Chief Economist, reported:
“About 33% of civilian jobs created over the last 12 months have been for the young adults who are most likely to buy their first home. This should help support continued growth in the share of homes purchased by first time buyers, as economic success has been influencing older Millennials to jump into the housing market this year.”
It appears that Millennials will be entering the housing market in great numbers in the very near future.
Thanks to our friends at KCM (KeepingCurrentMatters.com) for the amazing market information!