Millennials and Home Buying: How High Mortgage Rates Are Impacting Decisions
An “Open House” sign is displayed outside a home for sale in Miami, Florida. (Scott McIntyre/Bloomberg via Getty Images)
High mortgage rates remain a burden for consumers searching for a home on the market. But one generation of prospective buyers isn’t letting this deter them from pursuing a house.
Millennials are the main group with a higher interest in buying a home in this year compared to September 2024, based on a new survey from Realtor.com. The survey also assessed how homeowners finance their home purchase.
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The online real estate marketplace conducted a survey on April 10-11, 2025, among a national sample of 2,203 adults 18 years old and older.
Millennials’ Intentions of Buying a Home on the Rise
Why you should care:
Nearly 1 in 4 millennial respondents in a Realtor.com survey said they plan to purchase a home in the next six months, up from just 15% in September 2024. Only 14% of all respondents admit they plan to do the same.
According to Realtor.com, millennials’ buying intentions rose 23% in 2025 compared to September 2024 (15%), although 69% of Americans are not planning to take part in a real estate transaction in the next six months.
Mortgage Rates Influence Decisions to Purchase a House
Dig deeper:
Approximately one-third of respondents suggest that they have delayed buying a home because of high mortgage rates. The study also noted that younger generations, many who are first-time buyers, are substantially impacted by high interest rates.
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