Redfin Reports Gen Z and Millennial Homeownership Rates Flatlined in 2024 as Housing Costs Soared
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business Wire
Young Americans are also tracking behind their parents' generations; for instance, 33% of 27-year-olds own their home today, compared to 40% of baby boomers when they were 27. SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Young Americans are losing their momentum when it comes to homeownership, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Just over one-quarter (26.1%) of Gen Zers owned their home in 2024, essentially flat from 2023 (26.3%) and 2022 (26.2%). Before that, the Gen Z homeownership rate had increased each year since Gen Zers started aging into potential homeownership in 2017 (except 2022, when it stayed flat).The story is similar for millennials: 54.9% of millennials owned their home last year, essentially unchanged from 2023, when it was 54.8%. Prior to 2024, the millennial homeownership rate had increased each year since 2012.Older Americans saw their homeownership rates increase slightly in 2024: 72.9% of Gen Xers own
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