Skip to main content

Younger Homebuyers Heading To The Country’s Midsection

Doug Page
Apr 05, 2022
Young Homebuyers

Homebuyers 30 and younger can't afford California and Florida

Younger buyers, those 30 years old and younger, are more likely to purchase homes in parts of the West and the Midwest but not in the country’s coastal areas because they’re more expensive, reports CoreLogic, which analyzes consumer trends.

This year, homebuyers 30 years old and younger make up less than 20 percent of all homebuyers, down from 22 percent two years ago, says CoreLogic Economist Archana Pradhan.

“Since 2021, record-breaking home price growth has created affordability challenges, especially for homebuyers,” she said.

Markets that have seen large groups of 30 and younger homebuyers include Provo, Utah, (37%), followed by Ogden, Utah, (35%), with Grand Rapids, Mich., and Des Moines, Iowa, both at 34% of all homebuyers 30 years old and younger.

“There is a positive relationship between the share of young homebuyers and the affordability index, meaning there is a larger proportion of younger people purchasing in more affordable markets,” Pradhan said.

Florida and California saw the lowest percentage of homebuyers 30 years old and younger. The markets with lowest homebuyers 30 and younger include North Point, Fla., Oxnard, Calif., Miami and Los Angeles, Pradhan said.

Published
Apr 05, 2022
FICO Increases 400% For Tier 3 Lenders

Finding solutions in soft pull credit reports

Analysis and Data
Jan 27, 2023
NAR: Pending Home Sales Rose In December

Redfin report also shows year-over-year improvement.

Analysis and Data
Jan 27, 2023
Mortgage Rates Fall For 3rd Straight Week

Freddie Mac says lower rates are attracting more buyers to the market.

Analysis and Data
Jan 26, 2023
New Home Sales End Down Year On Up Note

For all of 2022, sales of new homes fell 16.4%.

Analysis and Data
Jan 26, 2023
Mortgage Application Payments Fell 2.9% In December

The median payment fell to $1,920 in December from $1,977 in November. 

Analysis and Data
Jan 26, 2023
ATTOM: Home-Seller Profits Top 50% In 2022

Profits on typical sales increase between 45% and 51% nationwide.

Analysis and Data
Jan 26, 2023