Where Millennials Are Entering the Homebuying Market
"Millennials in Pittsburgh, Washington D.C., and Des Moines, are pursuing home ownership more than their counterparts in any of the nation’s 100 largest cities," according to a news release by Megan Greuling to announce the results of a study by LendingTree.
The study "analyzed mortgage requests and offers for borrowers aged 35 years and under between August 1, 2016 and February 1, 2017, along with requests from the total population of mortgage-seekers based on the location of the property to be mortgaged." The results of the analysis rank the 100 largest cities as "Most Popular" for Millennial homebuyers.
According to LendingTree, the young people pursuing mortgages in Pittsburgh, D.C., and Des Moines "are at the forefront of a growing nationwide trend of young buyers returning to the housing market." Meanwhile, at the bottom of the list, Fayetteville, North Carolina came in at #100, preceded by three cities in Florida.
For more insight into the Millennial effect at work in the real estate market, see also a study of Millennial emigration by Apartment List from November 2016.