93% of Young Adults Plan to Buy a Home

by The KCM Crew on December 18, 2012 · 2 comments

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If you follow this blog, you know that we have often posted that we believe young adults between the ages of 18-34 will be a major percentage of all buyers purchasing a home in 2013. Some believe we are overestimating the millennials’ belief in homeownership. However, a new study by Trulia reveals we may be dead on. Regarding young adults, the study reports:

  • 43% are already homeowners
  • 93% that currently rent plan to purchase a home
  • 72% say homeownership is part of their personal American Dream

Jed Kolko, Trulia’s Chief Economist, explained:

“Millennials have been shaken, not scarred by the housing bust. 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.”

If you are a young adult waiting to buy, you must realize that the price of a home and the cost of a mortgage are both projected to increase in the next 12 months.

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We at The KCM Crew are pursuing our mission of building a home for real estate information. We are truly dedicated to helping real estate professionals by supplying all the tools and resources they need to be seen as industry leaders in their marketplace. See how we can help you become an industry leader in your marketplace, and be sure to check out our page on Facebook and follow us on Twitter.

  • Michael Aimiyo

    Here is a great tip—come to bangkok and you can afford to buy a good place really inexpensively too. Well you may not take me seriously but the economy is great here and I wish I would have come here in when I was young.

    • Ryan Williamson

      I fit into the above demographics in many ways and yes, my life dream is to purchase a home but not in the US. I’m floored how many of my peers would rather struggle with the US housing market instead of being open to going abroad where they can leverage a USD based income.

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