Redfin: This is how Millennials save for their home down payments
According to the company’s recent survey, 72% of Millennial homebuyers say they are funding home down payments with money saved from their paychecks. This is because the generation’s buying power has strengthened as their income levels have risen, according to Redfin. “The combination of strong wages and the housing market stalling late last year means that more buyers are able to save for their down payment using their primary income alone,” Redfin writes.