Millennials are reaching peak homebuying age as affordability pressures reach a fever pitch.
Falling lumber prices and accelerated construction would slow price inflation, but only somewhat.
Experts see little risk of the housing market s boom turning into a bubble. But that doesn t mean there s no reason to worry.
Housing has served as one of the rare economic hot spots during the coronavirus pandemic. Tumbling mortgage rates boosted demand, which quickly spurred rampant homebuying. The spree quickly snapped up most of the country s available supply, and the record-breaking inventory drought led owners to demand higher and higher prices.
The intensity of the market boom and data tracking it has prompted countless comparisons to the mid-2000s housing bonanza. In many ways, this market resembles the state of play in 2005 and 2006, which was the peak of a previous bubble that burst, to disastrous effect. But a few key differences separate today s market from the one of about 1
San Jose, Boston, and Denver Top LendingTree s Ranking of Popular Metros for Millennial Homebuyers
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CHARLOTTE, N.C., Jan. 6, 2021 /PRNewswire/ Millennials make up the largest group of homebuyers in the United States, surpassing members of older (and wealthier) generations like Generation X and baby boomers. While the COVID-19 pandemic has thrown a wrench into Millennial homebuying plans, many members of this generation are still looking to take advantage of near record-low
Location is typically a primary factor to consider when buying a home, but the pandemic has affected many aspects of the U.S. economy including various industries and local job markets. For its annual report, LendingTree analyzed mortgage purchase requests made on the LendingTree platform across the nation s 50 largest metros from Jan. 1 through Dec. 15, 2020 to better understand where the largest homebuying cohort is interested in purchasing a home