Why Millennials Continue to Dominate Real Estate
Sep 30, 2025
Why Millennials Continue to Dominate Real Estate
Millennials Still Lead the Way in Home Buying, Even as Gen Z Steps In
Buying a home may feel overwhelming, but millennials are showing that this is the moment to step in with confidence. According to Realtor.com, millennials remain the driving force behind homeownership, even with a slight dip in activity last year. In 2024, buyers aged 28 to 43 accounted for nearly half (49.7%) of all mortgage applications across the 50 largest metros. That’s down from 52.3% in 2023, but millennials clearly continue to dominate the market.
Why Millennials Dominate
Millennials are in their prime buying years—building careers, starting families, and seeking stability. With stronger credit and more savings than younger Gen Z buyers, they’re well positioned to qualify for mortgages.
Where They’re Buying
Millennials are most active in competitive, high-cost markets. In San Jose, they made up 62.6% of applications, followed by Seattle (57.1%) and San Francisco (56.9%). Austin, New York City, and Boston also ranked high. These hubs offer strong job markets, desirable lifestyles, and excellent schools—factors that attract millennial buyers.
Committed to Ownership
West Coast metros also saw the largest down payments: San Jose ($212,901), San Francisco ($190,342), and Seattle ($146,948). Loan requests were equally high, with San Jose averaging nearly $794,000. These figures highlight millennials’ financial strength and determination to put down roots, even in costly areas.
Why the Dip?
The small drop in share reflects rising prices, higher interest rates, and the entrance of Gen Z into the market. Many millennials simply paused to save more, while younger buyers began applying in starter markets.
The Bottom Line
Millennials remain the most active and financially capable homebuyers. Their confidence and persistence—especially in expensive metros—prove they’re still the market’s power players and a vital force shaping the future of real estate.millennials’ financial strength and determination to put down roots, even in costly areas.
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Source: www.realtor.com
Buying a home may feel overwhelming, but millennials are showing that this is the moment to step in with confidence. According to Realtor.com, millennials remain the driving force behind homeownership, even with a slight dip in activity last year. In 2024, buyers aged 28 to 43 accounted for nearly half (49.7%) of all mortgage applications across the 50 largest metros. That’s down from 52.3% in 2023, but millennials clearly continue to dominate the market.
Why Millennials Dominate
Millennials are in their prime buying years—building careers, starting families, and seeking stability. With stronger credit and more savings than younger Gen Z buyers, they’re well positioned to qualify for mortgages.
Where They’re Buying
Millennials are most active in competitive, high-cost markets. In San Jose, they made up 62.6% of applications, followed by Seattle (57.1%) and San Francisco (56.9%). Austin, New York City, and Boston also ranked high. These hubs offer strong job markets, desirable lifestyles, and excellent schools—factors that attract millennial buyers.
Committed to Ownership
West Coast metros also saw the largest down payments: San Jose ($212,901), San Francisco ($190,342), and Seattle ($146,948). Loan requests were equally high, with San Jose averaging nearly $794,000. These figures highlight millennials’ financial strength and determination to put down roots, even in costly areas.
Why the Dip?
The small drop in share reflects rising prices, higher interest rates, and the entrance of Gen Z into the market. Many millennials simply paused to save more, while younger buyers began applying in starter markets.
The Bottom Line
Millennials remain the most active and financially capable homebuyers. Their confidence and persistence—especially in expensive metros—prove they’re still the market’s power players and a vital force shaping the future of real estate.millennials’ financial strength and determination to put down roots, even in costly areas.
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Source: www.realtor.com