Changing mores among the millennials will delay first-time home purchases and contribute to further declines in the national homeownership rate through 2018, according to Zillow.

Most participants in a survey of 104 economists and other experts expect that the recent declines in the nation's homeownership rate will deepen in the coming years, the real estate listing and mortgage lead generation website said. The reasons, respondents said, include a combination of changing attitudes among those born between the early 1980s and 2000s, known as the millennials, and rising mortgage interest rates and home values, which affect mobility and home affordability.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry