Reminder: Millennials want to buy homes! via HousingWire

Consumers are beginning to feel more positive about homeownership than they were even six months ago, a recent survey by Trulia ($18.25 0.25%) revealed. In fact, one in four surveyed consumers marked an increased confidence and 31% of renters plan to purchase a home within the next two years.

Millennials, consumers ages 18 to 34, are often the most skeptical, as they’ve grown up during the years of boom and bust. However, of the Millennials polled, 93% plan to buy a home at some point. Interestingly enough, 43% of young adults are already homeowners.

“Millennials have been shaken, not scarred by the housing bust,” said Jed Kolko, Trulia’s Chief Economist. “Nearly all of them want to own a home someday if they’re not homeowners already. But many of them think today’s low prices and low mortgage rates will last. They may be in for sticker shock if the cost of homeownership has returned to normal levels by the time they’re ready to buy.”

Read more...Reminder: Millennials want to buy homes! | REwired