Nearly all millennials, the largest generation in U.S. history, expect to be homeowners, according to a new report from the Urban Land Institute based on a national survey of 1,270 members of the group conducted in November. The group includes U.S. residents ages 19 to 36 and totals nearly 79 million.
With mortgage interest rates and home prices falling, the National Association of Home Builders is optimistic that these improvements will encourage more people to buy homes, particularly in the Midwest.
Lenders and banks originated approximately 1.6 million loans on single-family homes and condos in the first quarter, a dip of 6 percent from the previous quarter and a 17 percent jump from a year ago, according to RealtyTrac’s first quarter U.S. Residential Loan Origination Report.