The question wasn’t ever “should we be homeowners”, but rather “when can we be homeowners”?
Millennials are itching to purchase their first ever homes, and while the pandemic is awful on all fronts, it seems to be helping this group of potential homeowners save money for down payments.
According to a recent realtor.com survey, 68% of millennials have said that shelter-in-place orders helped them save for a down payment.
Remote work has also been able to ease the purchase of a home as well. 63% said they plan on purchasing a home because of their ability to work remotely. With the ease of working from home, more opportunity arises to find affordable houses in a variety of neighborhoods.
The pandemic might also be influencing where they want to live. A majority of respondents claimed most of the houses they searched for online were in the suburbs.
Check out realtor.com’s infographic below:
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