As 2018 came to a close, the real estate industry looked ahead to the upcoming year, and according to forecasts, 2019 is set to be a major year for millennials.
According to Realtor.com’s 2019 Housing Forecast, millennials will account for nearly half (45%) of all mortgages in 2019; significantly more than Gen Xers (37%) and Baby Boomers (17%).
As time goes on and we enter a new decade, that trend is only going to continue. According to the report, 2020 will see a peak in millennial home buying as the largest percentage of millennials turn 30. And millennials will likely continue to dominate the housing market for the better part of the next 10 years.
If you’re a millennial who has been thinking about purchasing a home, 2019 is the time to join your peers, make a move, and fulfill your dream of home ownership.