Nearly one in four millennial buyers say they want to buy a home before deciding to tie the knot, according to a new study from LendingTree.
Young adults are getting married later in life. In 1980, the median age of a first marriage for men was 24.7 and 22 for women; by 2018, those numbers rose to 29.8 for men and 27.8 for women.
But young adults—those between the ages of 22 to 37—say they aren’t waiting on homeownership for marriage, according to LendingTree’s study of more than 2,000 adults ages 22 and older. Millennials comprise the largest share of home buyers at 37 percent, according to the National Association of REALTORS®’ newly released2019 Home Buyers and Sellers Generational Report. Over the next two years, they are expected to enter the housing market in even higher numbers, too.
More young adults believe marriage and parenthood should come after homeownership. Twenty-seven percent of millennial buyers say they are postponing parenthood until after they purchase a home, and 22 percent are waiting to get a pet until they have a home of their own.