SANTA ANA, CA—“Given Generation X has a highhomeownership rate, and GenerationY is expected to as well, I would expect nothing differentfrom the youngest generation,” First American FinancialCorp.'s chief economist Mark Fleming tells GlobeSt.com. As we recently reported, ccording to a recent reportfrom the firm, increasing educational attainment indicates theprospect for higher income levels and homeownership demand amongMillennials.

Homeownership does tend to be a local issue, Fleming says.“While the national homeownership rate declined modestly in 2016,homeownership rates varied significantly at the market level. Smallchanges in potential homeownership demand hide the large amount ofvariation in markets across the country. The underlying factorsthat the Homeownership Progress Index accounts for can varysubstantially by region of the country and market. Regions ormarkets with stronger local economies and that can attractincreasingly educated Millennial households will have strongerhomeownership demand in the future.”