The preferences of millennials are important to nearly every U.S. industry because of their size, which is estimated at between 70 and 80 million.
Most millennials say they’d rather rent than buy a home — a decision that could cost them more than $700,000 over the course of their lives.
The difference this year is the positive factors supporting stronger sales, such as slightly improving credit conditions, more jobs, and slow price growth.
Millennials are sparking some new trends, though the rules are loose. Preconceived notions about what is correct have been shaken and stirred, and the boundary between formal versus informal seems less important to them.
The Census Bureau announced that the cohort of now-23-year-old Americans is the largest in the country, followed by 24 and 22-year olds, respectively. As this ascendent generation ages another year, more of them will start families and look to buy homes of their own.
4 predictions for the housing market in 2015 – Fortune.