The Most Popular Housing Market for Millennials Is …
December 20, 2018
The capital of the Beehive State is buzzing with Millennials on the prowl for homebuying, according to new data released by LendingTree.
In a data analysis of 50 major metro areas where buyers age 35 and younger made purchase mortgage requests on the LendingTree site between Jan. 1 and Nov. 25, Salt Lake City reigned as the market with the greatest number of Millennial purchase loan requests: 51 percent of the total purchase loan inquiries came from this youthful demographic. Minneapolis and Pittsburgh followed with 48 percent shares, respectively.
At the other end of the spectrum, Tampa had the lowest share of Millennials making purchase loan requests at 30 percent, followed by Las Vegas at 31 percent and Miami at 32 percent.
“We found that nearly one-fourth of all mortgage purchase requests in this period came from Millennials,” said LendingTree Chief Economist Tendayi Kapfidze, adding that Millennials in San Jose, San Francisco and New York had the highest average credit scores while their counterparts in Memphis, Birmingham and New Orleans had the lowest average credit scores.
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