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76
August 2025
J O U R N A L
"Renters are in a relatively rare position
where they can finally benefit from market
conditions rather than scramble to keep
up with them," Bokhari said. "With more
apartments available, renters can afford
to be a little more picky about where they
want to live and are in a stronger position
to negotiate for concessions like flexible
lease terms, lower rents, or free parking."
MILLENNIALS
BUCK RATE
TRENDS, SHOW
RISING INTEREST
IN HOMEBUYING
M
illennials are the only
generation with a growing
interest in buying a home this
spring, despite high borrowing costs and
affordability pressures, according to a
new Realtor.com survey. The share of
millennials planning to buy a home in
the next six months rose to 23%, up from
15% in September 2024.
"Despite current market challenges
and persistently high mortgage rates,
millennials are showing a notable
increase in home buying interest this
spring compared to last fall," said Laura
Eddy, VP of Research and Insights at
Realtor.com. "The influence of mortgage
rates cannot be overstated, with the vast
majority of Americans, including mil-
lennials, prioritizing lower rates before
committing to a purchase. The lock-in
effect is still very much in effect."
Overall, roughly 69% of Americans
say they are not planning to engage in
a real estate transaction in the next six
months, reflecting ongoing reluctance
amid elevated interest rates. Most buyers
are still holding out for lower borrowing
costs. According to the survey, 63% of
respondents want mortgage rates to
drop below 5% before considering a
purchase, and only 2% would buy with
rates above 6%.
Among current homeowners, the
lock-in effect remains a powerful de-
