92% of millennial homebuyers say inflation has impacted their plans
A new nationwide survey has found that an overwhelming 92% of millennial homebuyers report that rising inflation has directly affected their home-purchasing plans — forcing many to delay purchases, downsize their expectations, or relocate to more affordable markets.
The findings, compiled from over 5,000 respondents aged 25 to 40, reveal deep concerns about affordability at a time when home prices remain elevated and borrowing costs have climbed sharply.
Nearly half of respondents said they had reduced their target budget by more than 20%, while a quarter are now considering renting for at least two more years before buying.
Financial advisors suggest that millennials looking to enter the market should focus on building a larger emergency fund, locking in longer mortgage terms for stability, and exploring first-time buyer assistance programmes.