Millennial Homeowners Surpass Renters But Face Uphill Battle to Affordability

Despite making up the majority of homeowners for the first time, many millennials struggle to afford purchases in the current real estate market.
While their homeownership rate has increased 52% over the past five years, the pace of millennial home purchases is likely to slow.
of Americans feel priced out of the current housing market, including 69% of millennials looking to buy their first home.
High mortgage rates and low inventory remain barriers to homeownership for many millennial homebuyers and the generation as a whole.