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last yr.

Gen Z Outpaces Previous Generations in Homeownership Rates

Despite high mortgage rates and home prices, younger generation enters housing market earlier, with expectations of increased housing supply as baby boomers age.

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In this aerial view, single family homes are shown in a residential neighborhood on October 27, 2022 in Miramar, Florida.
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Overview

  • Gen Z homeownership rates are outpacing those of previous generations at the same age, with over 26% of adult Gen Zers owning a home last year.
  • Despite high mortgage rates and home prices, Gen Z is entering the housing market earlier due to factors such as financial help from family and increased financial savviness.
  • However, 26-year-old Gen Zers are lagging behind previous generations in homeownership rates, possibly due to being weaned off of their parents' financial support.
  • Housing affordability is expected to improve slightly this year, with home prices projected to fall 1% year over year in the second and third quarters.
  • As baby boomers age and exit the housing market, Gen Z is expected to benefit from the increase in housing supply.