The desire to pursue homeownership has not abated. A new report from Bankrate.com determined that 59 million American adults (one in four) are considering buying a home this year. Furthermore, almost two in five minorities affirmed at least some likelihood of buying a house in 2017, more than double the percentage of white Americans who responded the same way. And 20 percent of older Millennials (ages 27-36) and Gen Xers (37-52) indicated they are very or somewhat likely to take the plunge.
“Among millennials, there’s a lot of pent-up demand for home buying,” said Holden Lewis, Bankrate.com’s senior mortgage analyst. “They have been stymied by stagnant wages, student loans and a lack of available starter homes. If enough affordable homes are put on the market, we might see a surge of first-time homebuyers in their early to mid-30s.”
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J. SCOTT HARRIS | DIVISION VICE PRESIDENT & BRANCH MANAGER
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885 E Collins Blvd Ste 110
Richardson, TX 75081
My Branch Closes FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana
Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender
J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.