RELATED: Why homes are selling lightning fast
Seventy-five percent of first-time home buyers would rather skip a starter home, according to a 2016 survey by Bank of America.
Millennials lived longer at home or rented for a longer period of time, allowing them to save a larger down payment to purchase the home of their dreams, analysts said. They also purchased more homes last year than any other generation, according to the National Association of Realtors.
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