Young Americans Are Enthusiastic About Homeownership
Young Americans who are less than 35-years-old are continuing to show enthusiasm when it comes to homeownership. In a recent report, Zillow revealed that the number of young homeowners under 35 has climbed to 40% in the second quarter of 2019.
"While the nation's senior population still had the highest rate – 78% for Americans 65 and older, falling from 78.5% – an analysis from Zillow indicates the younger generation is warming up to homeownership," according to HousingWire.
"The rate for Americans under 35 years old rose to 36.4% from 35.4% in the prior quarter, the largest increase of any age bracket, according to Census data."
Meanwhile, the report showed that homeownership for Americans 35 to 44-years-old dropped from 60.% to 59.4%.
"By 2019, some buyers simply couldn’t save enough for a down payment and pulled back from the market, causing sales and home value appreciation to slow dramatically," according to Zillow.
"Given the affordability challenge of saving for that down payment, this could be a testament to the ambition of younger households to break into homeownership."
To learn more about homeownership for those 35 and under, click on the image above.
