【Bloomberg】Three Charts Show Struggle Is Real for Millennial Home Buyers

First-time homebuyers are a key part of America’s housing sector, but student loan debt and a lack of affordable homes are weighing on their purchase plans.

New entrants to the real estate market have dwindled since the financial crisis to 33% of total sales versus 42% in the early 2000s. That coincides with a shrinking supply of lower-priced properties and tighter lending standards, making mortgage approvals tougher amid a record in delinquent school debt.

It’s an important demographic to watch ahead of the existing home sales report for April, reported by the National Association of Realtors Tuesday. The median first-time buyer pays $204,000, according to NAR.

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By Katia Dmitrieva