LAS VEGAS (KLAS) — Millennials moved into homeownership in growing numbers thanks to higher incomes and help from their parents.

52% of millennials now own a home versus renting but not all without help.

A recent LendingTree Survey found 60% of millennial home buyers had help with their down payment.

Compared to previous generations it took millennials longer to save enough for their first home with the average age of homeownership now at 34.

For millennials like Scott Barr and his wife, it was the right time for them to buy in January 2022.

“We got a meeting with a realtor just to see what the market looked like. At the time house prices weren’t too inflated and the rates were still pretty decent,” he said.

For realtors like Merri Perry, it’s good news. “They are 50% of the market now which great.”