Millennial homeownership soaring in California

Millennials are finally entering the housing market in significant numbers, particularly in California’s Bay Area. In 2023, 37.8% of new mortgages in San Francisco were issued to millennials aged 35-44, the highest percentage among the 50 largest metropolitan areas. Other California cities like Oakland, San Jose, Los Angeles, Anaheim, San Diego, and Sacramento also see over 30% of new mortgages going to this age group, marking a major shift as millennials transition from renting to homeownership.

Several factors contribute to this trend, including economic recovery post-pandemic, low mortgage rates, and the flexibility of remote work. This influx of millennial buyers is reshaping California's housing landscape, with urban areas evolving to meet the demands for walkability, proximity to amenities, and sustainable living. If you're looking to buy or sell in this vibrant market, feel free to reach out to us for expert guidance and support.