Millennials are almost lapping older generations when it comes to home buying and spending. A new report revealed that they have moved more, purchased more homes and spent more than all older generations.
"A report from Realtor.com says that at the end of the third quarter, the Millennial share of mortgage originations increased 3% from last September, coming in at 46%," according to HousingWire.
"Meanwhile, Gen X and Baby Boomer shares continued to fall, to 35% and 17% this year, from 37% and 18% last year, respectively. As for primary home loan originations, Millennial shares increased also. In September, Millennial share was 44%, up from last year’s 40%."
Millennials are also moving at a frequency of once every two years, according to the report. Oddly enough, the report also showed that millennials are buying more expensive homes than older generations.
To learn more about how millennials are outpacing older generations in home buying and more, click on the image above.