Looks like millennials aren’t so anti-home ownership after all!

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Karla Walsh, a first-time buyer, recently closed on an older home in the Beaverdale area in central Des Moines. She bought a few piece of furniture off the former home owners like the couch on the back porch, and she was getting ready for some friends to stop by to see her new place.(Photo: Andrea Melendez/The Register)

Cities where millennial homebuyers dominate​

Millennials accounted for a higher portion of homebuyers in metro Des Moines than any other market, according to Realtor.com. Here’s a look at the top 10 millennial cities based on the share of homebuyers ages 21 and 35 using mortgages during the first half of 2015.  What pops out at me is that these markets are all in the midwest/south where starter home prices are generally under $200K (e.g. in Des Moines the average home price is $170K). Job opportunities are also more plentiful in these areas (the unemployment rate in DM e.g. is 3.1%).

  1. Des Moines: 59 percent
  2. Provo, Utah: 49 percent
  3. Baton Rouge, La.: 47 percent
  4. Pittsburgh, Penn.: 47 percent
  5. Lafayette, La.: 47 percent
  6. Grand Rapids, Mich.: 46 percent
  7. Madison, Wis.: 46 percent
  8. Clarksville, Tenn.: 45 percent
  9. New Orleans, La.: 45 percent
  10. Shreveport, La.: 44 percent

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