According to a recent TransUnion analysis, 55 percent of the people who shopped for a mortgage in the first quarter of the year were first-time homebuyers. In comparison, only 35 percent of all buyers were first-time homebuyers last year.
Housing experts break the Millennials who rent into three segments: Those who can’t afford to buy, those who prefer to rent, and those who will eventually buy. The number of eventual buyers is expected to rise as the job market and economy improve, and as young adults continue to improve their credit and get accepted for mortgages.
