Millennials had different factors that impacted them during their years growing up and while in college, which has influenced their home buying decisions. Some of these factors could be the affluence of their parents (when compared to previous generations), the higher cost of education which led to higher student loans and debts, high prices in housing, a less-than-stable economic condition, increased use of technology, the introduction of the Internet, the prevalence of social media, etc.
Also, the sheer number of Millennials is predicted to have a great impact on the housing market. They already make up 32% of home buyers, which makes for the largest share in this category. This generation also leads all others when it comes to being first time home buyers, at 68%.
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