Millennials Looking at Homeownership

HousingWire reports a survey by Trulia revealed the Millennials, the 18-34 age group, were more optimistic than three older age groups that conditions will be conducive for them to purchase a home. ( See chart below.) MHProNews has learned the survey showed 31 percent of renters plan to buy a home, and 93 percent of Millennials see homeownership in their future. 43 percent of young adults are already homeowners. Jed Kolko, Trulia’s chief economist, says, “2013 could be the year that inventory turns around, just as 2012 was the year that prices started recovering. Homebuyers need inventory to choose from, and with fewer foreclosures on the market, new inventory will come from new construction or homeowners wanting to sell. Rising prices will bring out more sellers, especially if price increases lift them back above water.”





(Image credit: Fotosearch–Graphic credit: HousingWire)




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