Millennials buying homes at fastest pace in 18 months

Consumer

(WHTM) — The housing market is still booming, and young people are a driving force.

New data shows millennials are buying homes at the fastest pace for the past 18 months. By working at home and not traveling, they’re saving up enough for down payments.

“The landlord could up the rent because of a lack of inventory to rent so you send them to a lender and they’re like ‘oh my gosh, thank you. I can own my own first home,” Cathy Wantz of Real Estate Today said.

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Nationwide, the median price of a home sold in the fall was more than $350,000, that’s up 13% from the previous year.

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