While millennials delay entering the housing market longer than the generations that have preceded them, they are now increasing home ownership rates faster than in previous years according to Fannie Mae. HousingWire staffer Kelsey Ramirez takes a look at the millennials entering into the housing market and how their improving credit scores are leading them to find more conventional loans rather than using FHA-backed loans as they had done in the past.
After outlining the current economic situation of the millennial, Ramirez reports on exactly where the millennials are going in order to enter into the housing market - and it's not the coast. Of the five housing markets named, Utah County, Utah came out on top:
- Employment grew 6.7% in 2015