Younger Millennials (ages 29–35) make up the bulk of first-time buyers .

. Despite facing heavy financial constraints, this generation has officially transitioned into a homeowner-majority demographic, with the overall millennial homeownership rate reaching 55.4% .

: Over 50% cited the desire for a larger home as their primary motivator . This is heavily driven by delayed family formation and raising children .

: Millennials represent the most active generational cohort in the real estate market .

: An overwhelming 74% of millennials still view homeownership as a core component of the American Dream .

: Over half of all millennials are now homeowners .

: Stubbornly high home prices and mortgage rates hovering in the 6% to 7% range have crippled purchasing power .

According to data from Clever Real Estate via Mortgage Professional America, report facing at least one significant barrier to homeownership .