Nearly 40% of Americans between the ages of 25 and 44 who bought homes last year plan to stay in them for 16 years or more, according to data from the National Association of Realtors.
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as one that usually has one to two bedrooms, one bathroom, around 750 square feet to 1,250 square feet of space and is usually located in a suburb.Only about 11% of homes sold in the first quarter of 2023 were priced below $300,000, per the U.S. Census'. In April, the average new home sold for about $501,000, and the median new home price was $420,800.
Young people are among those looking to buy. But it seems they're interested in making longer-term purchases, rather than settling for a starter home they'll sell after a few years. ." For the first time last year, millennial homeowners outnumbered renters, according to U.S. Census data.. But between 2017 and 2022, the number of millennials who own their homes increased 64% to 18.2 million.For the millennials and Gen Zers who haven't yet become homeowners, one thing is clear: There's no such thing as perfect timing.
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