39.7% of new mortgages in 2023 issued to Gen Z homebuyers under 35, driven by financial stability and family growth.
A Redfin report reveals that Gen Z homebuyers are increasingly entering the market, with 39.7% of new mortgages in 2023 issued to those under 35. This shift is driven by financial stability and family growth. The median age for first-time buyers is now 35. The report identifies Pittsburgh and Cincinnati as top states for Gen Z homebuyers, while locations like Miami and San Francisco are among the least favorable for purchasing homes.
September 20, 2024
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