During National Homeownership Month in June, the housing industry celebrates the important role that home plays in our lives and the benefits of homeownership to households, communities and the national economy.
It’s also an exciting opportunity to help open the door of homeownership to a rising tide of first-time home buyers.
As we’ve previously reported, recent data from the Census Bureau confirms that millennials are increasingly entering the housing market as first-time buyers. The homeownership rate of millennials – now at 35.3% – registered the largest gains among all age groups in 2017.
As the nation’s largest demographic group, more than 70 million millennials are poised to dominate the home buying market in the months and years ahead. That means it’s important to both understand what millennials home buyers want and also help them navigate what can often feel like an overwhelming amount of decision-making and endless paperwork.
For prospective buyers concerned about qualifying for a mortgage, Fannie Mae offers resources on affordable mortgage options and HUD provides a state-by-state directory of home-buying assistance programs.
HBAs and members also have access to NAHB’s National Homeownership Month Toolkit, which contains customizable articles about the home-buying process and the benefits of homeownership. These articles also highlight new trends in home designs, including design trends preferred by different generations. You can use this content on your website or blog, and in newsletters, emails, etc.
Prospective home buyers looking for inspiration for their new home can check out some inspiring work of NAHB members in our Start Dreaming photo galleries.