Friday, September 3, 2021 / by Juan Grimaldo
180M people could be looking for homes in coming years. What it means for already-hot U.S. housing market.
Recent reports and surveys show a desire among millennials, as well as renters in other generations, to be homeowners. But circumstances are making things a little difficult.
A recent survey conducted by eXp Realty LLC found 73% of survey respondents believe owning a home is more important now because of the Covid-19 pandemic. Specifically, 80% of millennials said owning a home is now more important to them now than before the pandemic.
The survey was part of eXp's Emerging Real Estate Trends 2021 National Study, which surveyed more than 2,000 people planning to buy or sell a home in the next year or who have bought a home in the past year.
Millennials have made up the majority of the homebuying population for some years now. But the number of those homebuyers in the housing market is only going to pick up in the coming years, experts predict.
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By Ashley Fahey, Real Estate Editor - Phoenix Business Journals