Fewer millennials are house hunting in metro Denver
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The number of millennials looking for a home in metro Denver has dropped, per a recent LendingTree analysis.
By the numbers: Millennials — age 28 to 43 — made up 54% of mortgage purchase inquiries in metro Denver in 2024, down from 59% in 2023.
Why it matters: High housing prices, near-6% mortgage rates and a shortage of affordable homes are keeping many shoppers, especially younger people, out of the market nationally.
Case in point: The median age of first-time homebuyers nationwide hit 38 last year — the oldest on record, per the National Association of Realtors.
The big picture: Millennials made up nearly half of LendingTree mortgage purchase inquiries in 2024 across the 50 biggest U.S. metros, but their share is shrinking.
What we're watching: Just 7% of millennials are actively touring open houses or searching for homes in their area, Bankrate research shows.
- Many have stopped looking altogether because they can't afford the homes they want.