10 best housing markets for mortgage lenders to target millennials
For mortgage lenders, crafting a positive borrower experience is priority.
Whether through technology efforts to make processes more efficient or transforming staff roles to meet consumer needs, the mortgage industry wants to be better for borrowers.
With customer retention top of mind, it would behoove lenders to pay attention to homeowner demographics at a time when originations are falling off as homebuyers suffer from low levels of supply and rising home prices and mortgage rates. And because millennials comprise the largest cohort of homebuyers, lenders should know where to reach them.
While many markets in Florida are known for being hubs for retirees, other clustering cities are attracting younger crowds in a few key areas of the country, according to a LendingTree report.
From Provo, Utah, to Dallas, here's a look at 10 housing markets with the youngest homebuyers.
The data is derived from a LendingTree analysis of Census Bureau data on occupied households from 2012 to 2016. The rankings are sorted by the youngest average age of consumers living in a given metropolitan area among the nation's 100 largest cities.
The average ages of homeowners and renters evaluated in the report refer to householders occupying their housing units.