Svenja Gudell, recently appointed chief economist for the housing site Zillow.com says:

“Millennials are going to be bigger and bigger buyers in the market going forward,” Gudell said. “I don’t think next year we’re going to see a flood of millennials in one month or another. They’ll just trickle in. They’re taking their time getting to the market and buying a home. They’re getting married later on in life. They’re having children later on in life. So they’re making home-buying decisions later on in life.

“One issue is that inventory is very low, especially on the bottom end of the price distribution. There are very few of those available, especially in these markets that have the most jobs. That’s particularly the case on the coasts. It’s a challenge for them. It’s a tough market. There is a lot competition.”