Millennials Are Now Dominating the Mortgage Market

Millennials Passed GenX around 2018 as the Largest Percentage of Mortgage Originations


Millennials have largest share of loan originations.

According to Nicki and Karen's article, Millennials make up 45% of all mortgages, with Generation X at 37% and Baby Boomers at 17%. They do currently make up the highest percentage of mortgages now that the oldest of the generation are in their late 30's, but that was not the case until M0illennials were fairly old compared to previous generations. They seemed to be more focused on higher education, foregoing a mortgage until later. Today, Millennials are between 22 and 38 years old.

As far as home buying trends, Aceable Agent's article says it best. Baby Boomers are looking to downsize either to smaller homes in neighborhoods supporting their new lifestyle now that their kids have moved out or a neighborhood with plenty of restaurants and shops within walking distance. Generation X has mostly rented in recent years but is now looking for homes in close proximity to work and highly rated schools, as many of them have children under 18. Millennials want to have lots of entertainment available to them, but surprisingly are looking at the suburbs with close-by restaurants, bars, and venues as possible. Another surprise is they aren't afraid to buy a home that needs some work.  With their student loans looming, many are happy to get a lower priced home that they can work on and improve it's value. "A study performed by the National Association of Realtors in 2017, shows only 15% of Millennial home buyers purchased a home within an urban location." Chart

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References: Q1 2019 Generational Propensity Report. May 2019. <>.
Aceable. Sept 2019. <>.
Nicki and Karen: 7 Millennial Home Buying Trends in 2019. June 2019. <,and%2017%25%20for%20baby%20boomers.>.





mortgage trends, market condition, sellers, real estate trends