Millennials Account for One-Third of Homebuyers – NMP
Industry News

Millennials Account for One-Third of Homebuyers

Mar 14, 2018
The housing market is poised to see a dramatic increase in the number of first-time homebuyers

Slightly more than one-third of all home purchases were made by Millennials over the past year, according to the National Association of Realtors (NAR) 2018 Home Buyer and Seller Generational Trends study.
 
The latest study found Millennials accounting for 36 percent of homebuying, making them the most active generation of buyers for the fifth year in a row. In last year’s study, Millennials accounted for 34 percent of homebuyers. In comparison, Gen X buyers ranked second (26 percent, down from 28 percent in 2017), followed by Baby Boomers (32 percent, up from 30 percent in 2017) and the demographic dubbed by NAR as the “Silent Generation,” those born between 1925 and 1945 (six percent, down from eight percent in 2017).
 
NAR determined that the typical Millennial buyer in the survey had a higher household income ($88,200) than a year ago ($82,000) and purchased the same-sized home (1,800-square-feet) at a more expensive price ($220,000, up from $205,000 in 2017). Millennials carried higher student debt balances than in last year’s survey, and slightly more of this youthful demographic acknowledged that saving for a down payment was the most difficult task in buying a home.
 
Fifty-two percent of Millennials bought in a suburban location, with 15 percent opting for a home in an urban area. Only two percent of Millennial buyers over the past year bought a condo.
 
About the author
Phil Hall
Link copied
Published
Mar 14, 2018
Get the NMP Daily
Analysis and Data
Short Sales Now Recover More Value Than Foreclosures

Realtor.com finds short-sale activity accelerating, though the transactions represented just 0.6% of typical home sales in 2025

Short sales are increasing for the third consecutive year and now recover more of a property’s estimated value than foreclosures, according to a new Realtor.com report.Short-sale transactions increased 4% from 2023 to 2024, nearly 10% from 2024 to 2025 and approximately 16% ...

Continue reading
Regulation and Compliance
CHLA Says Direct Payments Are Key To Small FHA Loans

The lender group says mortgages below $100,000 routinely lose money, while LO compensation rules could prevent federal incentives from reaching originators

Direct payments to mortgage lenders represent the most effective — and perhaps the only — authority in the new housing law likely to measurably increase small-dollar FHA lending, according to the Community Home Lenders of America (CHLA).CHLA reached that conclusion after sev...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News
Jul 15, 2026
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Industry News
Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Industry News
Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Industry News
Jul 02, 2026
NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Industry News
Jul 02, 2026
President Trump Cancels 21st Century ROAD To Housing Act

Trump cancels signing the bipartisan housing bill, leaving affordability package in limbo

Industry News
Jun 24, 2026