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Market Updates

The Unexpected Reason Why Millennials Are Buying Homes

millenialsThere’s a driving force behind the fact that millennials are the largest group of homebuyers.

And no, it’s not because of marriage. It’s not because of kids either. So why do millennials buy houses? Mainly because of their pets.

It may sound crazy to people in older generations. Research backs it up. Did you know that 72% of millennials own a pet? According to a survey by Harris Pool for SunTrust Mortgage, 33% of millennial homebuyers bought a home because of their dog. Their love for dogs beats marriage. Only 25% said that marriage drove them to buy a house. Having kids isn’t the deal maker as well; in fact, only 19% of millennials say that kids are the reason for their investment.

Here are some other interesting statistics:

  • 89% of Millenials who bought…

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