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The Week Ahead: Tracking Millennial Homebuyers

millennial homebuyersOn Wednesday, June 6, Ellie Mae [1] will release the latest data on closed loan application trends for millennial homebuyers across the U.S. through its Millennial Tracker for April. The monthly report gives a snapshot of demographics, loan information, and percentage of closed loans for millennial homebuyers through an interactive online tool. It mines data from a sample of approximately 80 percent of all closed mortgages.

According to the data for March, the closing time for loans for millennial homebuyers decreased to its fastest time at 39 days. It found that the average age of millennial homebuyers also increased slightly at 30.1 years from 29.5 years in March 2017. The tracker indicated that in March 2018, males were listed as the primary borrower on 63 percent of closed loans to millennials, while women represented 32 percent, and five percent were unspecified. Married millennials represented 52 percent of all closed loans while 47 percent were for single millennials.

Here’s what else is in store in The Week Ahead: