The struggle is real for Millennial homebuyers

It’s going to be an intense house-hunting season — especially for young buyers.

After years of many experts lamenting how Millennials weren’t interested in becoming homeowners, it turns out many are actually diving in. But they’re facing a lot of competition.

Millennials are the largest group of homebuyers, according to Ellie Mae, a software company that analyzes mortgage data. In January, Millennials represented around 45% of all purchase loans, up from 42% the same month in 2016.

And many expect more Millennial house hunters to jump into the market this spring buying season.

But their path to homeownership won’t be easy.

 
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