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Millennial Home Buyers in the National Real Estate Market

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The low demand in November 2015 meant that first-time home buyers had only a 30 percent share in demand, which is slightly down from 31 percent in October and last year.

However, in 2015 home sellers saw an increase of first-time home buyers enter the housing market because of the growing segment of millennials between 25 and 34 years of age. The Census Bureau projects that the population of millennials aged 25 to 34 will increase by an average of nearly 500,000 per year in the second part of the decade.

Also, NAR’s inaugural quarterly Housing Opportunities and Market Experience survey reported that a large majority of millennials between 25 and 34 years of age who rent want to own a home in the future.

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