Contrary to popular opinion, millennials are buying homes. According to a study conducted by the team at LendingTree, an online loan marketplace, nearly one-fourth of all mortgage purchase requests made on their website between January and November of 2018 came consumers under the age of 35. And three American cities managed to rake in millennial buyers—making up almost one half of total new purchase requests.
In the 50 largest metropolitan areas in the United States, Salt Lake City, Utah, had the highest percentage of millennials making mortgage purchase requests, coming in at 51 percent, with an average requested loan amount of $234,391. Utah has recently found itself as a millennial buying mecca—another recent LendingTree study found that state is home to the youngest homeowners, on average, and also one of the easiest places to live while paying off a student loan.
Other areas where millennials are buying in droves? Minneapolis, Minnesota, and Pittsburgh, Pennsylvania, both having 48 percent of requests coming from people under the age of 35.
from Apartment Therapy | Saving the world, one room at a time http://bit.ly/2TqYRBF
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