Gen Z Outpaces Previous Generations in Homeownership Rates

Despite high mortgage rates and home prices, younger generation enters housing market earlier, with expectations of increased housing supply as baby boomers age.

Gen Z homeownership rates are outpacing those of previous generations at the same age, with over 26% of adult Gen Zers owning a home last year.
Despite high mortgage rates and home prices, Gen Z is entering the housing market earlier due to factors such as financial help from family and increased financial savviness.
However, 26-year-old Gen Zers are lagging behind previous generations in homeownership rates, possibly due to being weaned off of their parents' financial support.
Housing affordability is expected to improve slightly this year, with home prices projected to fall 1% year over year in the second and third quarters.
As baby boomers age and exit the housing market, Gen Z is expected to benefit from the increase in housing supply.