By Trey Garrison | HousingWire
Zillow’s (Z) 2015 forecast says that the coming year will be big, and a major change is going to be millennials diving into the homebuying market amid rising rents.
Zillow’s annual housing predictions also identify the five best housing markets for first-time homebuyers this coming year.
“Roughly 42% of millennials say they want to buy a home in the next one to five years, compared to just 31% of Generation X, and by the end of 2015 millennials will become the largest home-buying age group,” said Dr. Stan Humphries, Zillow chief economist. “The lack of home-buying activity from millennials thus far is decidedly not because this generation isn’t interested in homeownership, but instead because younger Americans have been delaying getting married and having children, two key drivers in the decision to buy that first home. As this generation matures, they will become a home-buying force to be reckoned with.”
