Young Adults Poised to Enter Homeownership Despite Market Challenges
The NAHB’s latest analysis highlights the growing difficulty for young adults under 35 to enter the housing market, with homeownership rates falling to a four-year low thanks to high mortgage rates and tight inventory. Despite this, homeownership rates for young adults vary widely, ranging from 65.6% in New York’s 1st district to 5.2% in the 13th. Some of the districts nationwide with the most young adult homeownership report overall rates of about 80%.