Millennial motherhood is on the rise. Could the increase in births for the millennial generation bode well for real estate and finally convince them to move into homeownership?
About 1.3 million millennial-aged women gave birth in 2015, which accounts for 82 percent of all U.S. births that year, according to Pew Research center data. Millennial women have lagged other generations in birth rates. Nearly half of Generation X women were already into motherhood by the time they were in the 18-to-33 age range, which millennials are at now.
About 42 percent of millennial women aged 18 to 33 gave birth in 2015. However, birth rates among millennials whose ages are beyond 30 are rising, Pew research shows.
The desire for parenthood is strong. Sixty percent of millennials say that being a parent is extremely important to their overall identity, according to a 2015 Pew Research Center survey.
Millennials are a generation carefully being watched by the real estate industry since their numbers rival baby boomers. They now comprise 34 percent of the workforce in the U.S. They’ve been slow to enter homeownership
, with many industry insiders saying it’s because they’ve been saddled by debt and slow to enter into marriage and parenthood.
Source: “More Millennial Moms, Older Houses, Job & Retirement Meccas,” BUILDER (Jan. 5, 2017)