Millennials

Millennial homebuyers are increasingly using savings from their primary paychecks to put money down on a home, according to Redfin.

Toronto, Montreal and Vancouver have seen the biggest net inflow of millennials in 12 years, a key reason demand for housing is expected to remain strong, despite spiraling costs, according to Royal Bank of Canada.

Millennials act differently than prior generations, including moving to second-tier markets to buy a home, and that is the opening for community lenders to reach this market.

Ally Financial took a stake in Better Mortgage, just the latest in the growing trend of banks investing in mortgage fintech companies to enhance their digital lending offerings.

A slim majority of younger consumers showed an interest in using a voice assistant like Alexa in the mortgage process, according to PriceWaterhouseCoopers.

With interest rates down, purchase mortgages accounted for the vast majority of millennial homebuyers' loans in February, according to Ellie Mae.

Despite earning less, the share of single female homebuyers who recently made a house purchase doubled that of single men, according to the National Association of Realtors.

Despite slowing home price growth, nearly 75% of millennials make financial concessions to afford housing compared to 40% of older generations, according to CoreLogic.

Canada's housing agency will spend up to C$1.25 billion ($943 million) over three years to take equity positions in homes bought by first-time buyers, part of a plan by Justin Trudeau's government to make housing more affordable for the youngest voters.

From the desert of the Southwest to all across Florida, here's a look at the 12 housing markets deemed best for first-time home purchasers.