Millennials shut out of the housing market, again

Millennials saw the largest increases in homeownership of their lifetimes between 2019 and 2021, according to a Washington Post analysis of new Census Bureau data.

Pandemic relief and historically low mortgage rates helped millions of millennials buy homes for the first time. As droves of younger people entered the housing market, the median age of home buyers dropped for the first time in nearly a decade.

But that tide abruptly turned in 2022. Rising prices, decreasing inventory and high mortgage rates shut out younger buyers. The median age of home buyers skyrocketed to 53, the highest on record, according to a survey from the National Association of Realtors (NAR).

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