How One Generation Is Changing Homebuying Trends
While many Americans are feeling cautious about buying a home right now, millennials are bucking the trend with a growing eagerness to purchase in 2025. According to a recent survey from Realtor.com, 23% of millennials say they plan to buy a home this year — up from 15% last fall. This makes millennials the only generation showing increased homebuying intent during this time.
Even with mortgage rates hovering around 7% for much of the past year, many buyers, especially millennials, are staying hopeful. The higher rates have caused some homeowners to stay put because moving would mean a bigger mortgage payment, but the desire to own remains strong among younger buyers.
Mortgage rates do influence buying decisions. About half of millennials and over half of Generation Z respondents said they’ve delayed buying due to higher rates. Still, roughly one-third of all buyers say they would consider purchasing even with rates above 6%, showing that many are ready to make moves despite the challenges.
Home affordability and financing also vary by generation. Many younger buyers rely on personal savings or family help to get started. Gen Z and millennials, in particular, have embraced fixer-upper homes, often doing their own renovations, which sometimes leads to unexpected challenges — but also great opportunities to create a home that fits their needs.
Interestingly, the median age of homebuyers continues to rise, reflecting a changing market where first-time buyers are older and often more financially prepared. The typical home price remains higher than pre-pandemic levels, but with the right guidance and planning, owning a home is still an achievable and rewarding goal.
If you’re considering buying a home or just want to get a clearer picture of the market, I’m here to guide you every step of the way and I’d love to help you find the right home that fits with your goals!
