Millennials Drive First Rise in Homeownership Rates in 17 Years

Young professionals accounted for the single largest percentage rise among all demographics

Millennials are credited with being the driving factor behind a recent surge in home buying across the country.

A new report from the U.S. Census Bureau showed that the homeownership rate in the United States rose in 2017 – the first time since 2004 –and that the largest single contributor to that growth is the millennial generation.

A separate report from Home Asset showed that among the cities where millennial homeownership rates increased the most in the past decade, Mesquite was tied for seventh.

Realtor Alicia Trevino, of Century 21 Alicia Trevino Realtors in Mesquite, noted that she has seen an increased trend in younger homebuyers.

“I do see this continuing, especially in the Hispanic market,” Trevino said.

Trevino indicated that numbers recently released by the National Association of Hispanic Professionals show that 53 percent of recent, first time homebuyers are Hispanic.

“You will start seeing that trend all the more across the nation, especially here in Texas,” Trevino said.

Millennials are the largest demographic group in America – totaling more than 90 million people, according to the National Association of Homebuilders, a group that predicts “millennials are poised to dominate the home buying market in the months and years ahead.”

Contact Us