A new white paper, "Myth Busting Millennials and Home Buying Attitudes," issued by national homebuilder PulteGroup, Inc., provides insights into the views and behaviors toward housing of the next wave of homebuyers – the millennials.

"At 30-plus years of age, the leading-edge of the millennial demographic is prime for homeownership, making them the next major wave of potential homebuyers," says Jay Mason, vice president of market intelligence for PulteGroup.  "From the type of homes we design, to the location of our communities, to the home and neighborhood features we offer, understanding millennials' views on housing is critical to successfully serving the more than 75 million individuals who comprise this country's biggest demographic.

"Contrary to much of what has been written, older millennials' views on homeownerships and their purchasing intentions are similar to previous generations.  In fact, in many ways they are acting a lot like their parents, but they are just doing it a bit later in life."

PulteGroup's research project set out to examine older millennials who are more affluent and better educated than the general population. To best understand their views and attitudes regarding homeownership, as well as the propensity to buy, PulteGroup's research was focused on answering four key questions:

1. Are the millennials rejecting homeownership?

2. When, why and how will they purchase homes?

3. What are their thoughts about homeownership versus renting?

4. Are millennials abandoning the suburbs?

In conjunction with prior work, PulteGroup is using the research findings as a foundation for developing community concepts and house designs that can meet the needs of millennials as they enter the homebuying market throughout the next decade.

"Consistent with the research findings, the Company outlined a number of opportunities to capture the millennial homebuyer, including adding urban styling to its suburban offerings, identifying closer-in land positions, and building in urban infill locations," said Mason.

The white paper highlights several actively selling and to-be-open communities as examples of how PulteGroup is meeting the housing needs of the millennial homebuyer.