CLEVELAND — Millennials are now the largest group of home buyers.
They have been slow to enter the housing market, but now, the National Association of Realtors said millennials represent 37% of home buyers.
Mitch Ahaus is among the millennials who are first time homebuyers. The 25-year-old NASA test engineer loved living the downtown city life in a Cleveland apartment.
But what he didn’t love was the rent.
“I hate paying rent every month, writing that rent check. Well, I didn’t write a rent check, I’m a millennial so I paid online,” said Ahaus.
He spent a month house hunting before settling on a Lakewood double. Ahaus is working on renovations to the house now and will soon rent the downstairs to help pay for his mortgage.
Many predicted the generation would not put down roots. But, EZ Sales Team Realtor Rachelle Loraine worked with Ahaus and dozens of other millennials purchase their first home.
“I think they are getting older, they figured out they’re throwing away $12,000 to $15,000 a year,” said Loraine.