Young homebuyers are finally testing the waters of homeownership. A study recently conducted by online loan marketplace LendingTree showed that the millennial demographic is looking more toward a few big, established cities for that big rite of passage. When examining the nation’s top 50 cities, the LendingTree analysis found that millennials in Boston, Pittsburgh and Washington, D.C. pursue home ownership more than their counterparts anywhere else. The city ranking is created from the percentage of all purchase mortgage requests that were submitted by consumers in the millennial generation. Differences between the 3 metros Interestingly, Boston and DC millennial buyers took out mortgages that were above the national average for what a millennial will borrow, while Pittsburgh loans were far less. These increasingly eager young buyers represent what could be the forefront of a growing nationwide trend of young buyers returning to the housing market. The company looke...
- A LendingTree analysis reviewed who is taking out mortgages, and for how much.
- Millennials are taking the plunge most often in Boston, Pittsburgh and DC.
- San Francisco millennials are also buying at a good clip, and are plunking down the most.
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