Millennials aren’t looking to buy homes. Or so the theory goes. Whether because of lingering effects of the Great Recession or Millennials’ preference for renting in urban areas, realtors and home-sellers haven’t been gearing their marketing to this generation.
New research from Fannie Mae and the University of Southern California debunks this long-held belief. It shows that this group is poised to have a significant impact on housing demand. So, while millennials have rented far longer than any other generation, they now make up the largest group of interested American homebuyers.