The recent decline in rents means Gen Zers can put more money toward saving for a down payment, according to a new report from Redfin.

Its Chief Economist Daryl Fairweather said in prepared remarks that housing affordability remains strained, "but things are looking up for Gen Z."

Gen Z's homeownership rate stagnated in 2023, but Millennials and Gen Xers saw gains, the report showed.

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