Millennials identified high-interest rates as the top obstacle to owning a home in the Millennial Home Buyer Report.
Real Estate Witch surveyed around 1,000 home buyers for the report.
- Almost all respondents (92%) said their home-buying plans changed because of inflation and 28% are delaying their search.
- Three in four millennials believe the housing market is in a bubble that could burst this year, improving affordability.
- 71% of the respondents said the home-buying process is stressful. Nearly half (51%) have been reduced to tears during the process.
- Millennials who identified buyer competition as an obstacle almost halved from 59% last year to 28%.
