Summary
Millennials in the United States are the most likely generation to have stopped trying to buy a home due to high costs, low supply, and high mortgage rates. A survey found that 22% of millennials gave up on buying homes from 2020 to 2025, while homeownership rates among them stalled. Despite challenges, most millennials still see homeownership as an important goal.
Key Facts
- A survey found 22% of millennials gave up on home-buying between 2020 and 2025.
- High home prices, low supply, and high mortgage rates are key barriers.
- Millennials reached a median age of 38 for first-time homebuying, up from 35.
- In 2024, 54.9% of millennials owned homes, which had not increased from 2023.
- Home prices rose over 30% in the previous five years, making buying harder.
- Many millennials cite debt, including student loans, as a barrier to homeownership.
- 74% of millennials still see owning a home as part of the American dream.
- Some experts believe the housing market may offer better opportunities soon.
